Agency warns U.S. thrifts about changing loan terms
WASHINGTON — After a rash of consumer complaints, the federal agency charged with regulating savings-and-loan institutions has issued guidance warning lenders they could not arbitrarily change the terms of home equity loans.
The Office of Thrift Supervision issued a six-page letter of guidance to the institutions, called thrifts, spelling out their obligations on home equity lines of credit, better known as HELOC...
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