WASHINGTON — Bankers and other lenders are strongly urging the Consumer Financial Protection Bureau to delay implementation of its "qualified mortgage" and other pending rules, warning that they won't be ready by the Jan. 10 deadline.

Many bankers are still waiting for vendors to update their systems as the CFPB continues to release amendments and clarifications to its ability-to-repay and QM rules. Although the industry welcomes the additional explanations from the agency, each change requires an update to their mortgage systems, operations and staff.

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