The Federal Reserve is looking at a plan that seeks to protect borrowers from shady mortgage practices.
The proposal from Fed staff members includes barring lenders from making loans to people without verification of income. Additionally, lenders would be prohibited from penalizing subprime borrowers who pay off their loans early.
Federal Reserve Chairman Ben Bernanke says the unfair and deceptive practices don't just hurt the borrowers, but also entire communities and "the economy as a whole."
The policy-makers are also considering requiring all rates and fees to be disclosed in advertising as prominently as introductory or "teaser" rates.
Before any rule changes adopted by the Fed actually go into effect, they must be voted on again after a period of public comment and possible revisions.