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They are often used by low-income customers, said the center, a nonprofit group that studies consumer lending issues.
Cathy Lesser Mansfield, a law professor at Drake University who specializes in consumer lending issues, said that the verdict might send a chill through the vast Wall Street mortgage market.
Mindful that Democrats now control the White House and Congress, Mr. Bernanke put up virtually no opposition to President Obama's proposal for a new consumer agency that would take over the Fed's authority over consumer lending issues.
Mr. Hawke, who said he issued the disputed guidelines after a wave of litigation between banks and states over consumer lending issues, said none of the banks he regulates receive preferential treatment.
Similar(56)
Take consumer lending.
In the consumer lending game, Capital One will take it either way.
In 2004, the OCC issued a sweeping preemption order that basically nullified all state laws governing consumer lending.
Consumer lending, though still tiny, is shooting up.
Consumer lending is equivalent to a mere 3% of GDP.
Consumer lending rose just 1 percent in the first quarter.
China's consumer lending industry is still in its infancy.
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