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As a result of this engagement, the company adopted anti-predatory lending guidelines for its subprime mortgage business, and now, is discontinuing a potentially predatory product.
This is good news for the economy since access to funding for small businesses is a part of job and economic growth.
Regulation AA has been repealed as of March 21, 2017, following the Dodd-Frank Act's elimination of the Federal Reserve Board's rule writing authority under the FTC Act.
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