WASHINGTON — The Consumer Financial Protection Bureau has managed to take one of the most controversial provisions of the Dodd-Frank Act — a rule that would effectively redefine the mortgage market — and craft it in a way to please both the banking industry and consumer groups.

The agency's revised final ability-to-repay rule released this week went a long way to easing many concerns from bankers that the version it initially offered in January would restrict access to credit, while also not giving so much ground that it alarmed consumer watchdogs.

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