The Consumer Financial Protection Bureau has hired Chris Peterson from the University of Utah, adding a formidable critic of mortgage securitization practices and payday lending to the young agency's staff.

As a law professor, Peterson was among the early critics of the Mortgage Electronic Recording System, questioning its standing to foreclose on homeowners and "MERS' culpability in fostering the mortgage foreclosure crisis," as he put it in a 2009 paper.

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