…The reluctance of banks to loosen lending standards is holding back the housing recovery. So far, the risk aversion of banks and their desire to avoid future accusations of predatory lending and crippling penalties have held up against a CFPB desire to see more money flowing to less-qualified borrowers. Banks are caught in a classic “damned if you do, damned if you don’t” dilemma that is ideal for exploitation by unregulated federal regulators. The barbarians at the gate this time are bureaucrats.”Tom Walters, Fairfax, Va., Wall Street Journal, September 3, 2014