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Viewpoint: Clarity is Key to Consumer Bureau Effectiveness

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The goal for the new bureau should be that, three years from now, consumers, bankers, and others all say: "Wow, this is much better," and are supported by empirical evidence.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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