Editor's Note: This story has been revised from the original. Background paragraphs were added to describe the CFPB's mortage plan and a separate one by banking regulators. Paragraph two was updated to clarify that Cordray was not opposing the banking regulators' plan.

The Consumer Financial Protection Bureau opposes a 20% down payment on low-risk mortgages and will not use its special rulewriting powers to undermine the Dodd-Frank Act, Director Richard Cordray told lawmakers Thursday.

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