The Republicans vying for the presidential nomination may have disagreed on many topics in Tuesday’s nationally televised debate, but they all pretty much agree on one thing—they don’t like Dodd-Frank. GOP presidential hopefuls such as Marco Rubio, Jeb Bush, and John Kasich all slammed the controversial Wall Street reform and consumer protection legislation during the debate, claiming the law is overreaching and that it perpetuates too big to fail for the biggest banks.
American Action Network, a right-leaning Washington, D.C.-based advocacy group, paid for a commercial spot during Tuesday’s debate which painted the Consumer Financial Protection Bureau as a communist organization that even included a backdrop of gigantic red-shaded banners of CFPB Director Richard Cordray and Sen. Elizabeth Warren, whose efforts are largely responsible for launching the Bureau. Warren responded via Twitter, saying, quote, So here's my message to Wall Street & their GOP buddies: we're ready to fight back to protect the CFPB. Close quote
While buying a home that fits the definition of unaffordable to millennials according to the federal government—a home with monthly mortgage payments that exceed 31 percent of the household’s monthly income—is generally a bad idea, research released by Trulia on Wednesday indicates that sentiment may be reversing its field. In many housing markets that have seen strong wage and income growth, the share of a household’s monthly income put toward a mortgage payment is shrinking, hence the once unaffordable house could become affordable within a matter of just months in some cases.