The Ban Predatory Financing Work (H. Mel Watt (NC) which have Rep. Brad Miller (NC) and you can Representative. Barney Frank (MA) Cosponsored because of the 65 members of Congress also CBC people Rep. Sanford Bishop (GA), Agent. Corrine Brownish (FL), Rep. Grams.K. Butterfield (NC), Associate. Julia Carson (IN), Del. Donna Christensen (VI), Agent. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Rep. John Conyers (MI), Representative. Elijah Cummings (MD), Rep. Artur Davis (AL), Rep. Chaka Fattah (PA), Rep. Harold Ford Jr. (TN), Agent. Al Green (TX), Agent. Jesse Jackson Jr. (IL), Associate. Sheila Jackson-Lee (TX), Associate. William Jefferson (LA), Representative. Eddie Bernice Johnson (TX), Representative. Stephanie Tubbs Jones (OH), Agent. Carolyn Kilpatrick (MI), Representative. Barbara Lee (CA), Agent. John Lewis (GA), Representative. Cynthia McKinney (GA), Agent. Kendrick Meek (FL), Rep. Gregory Meeks (NY), Representative. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Rep. Biggest Owens (NY), Agent. Donald Payne (NJ), Agent. Charles Rangel (NY), Rep. Bobby Hurry (IL), Agent. David Scott (GA), Rep. Bobby Scott (VA), Rep. Bennie Thompson (MS), Associate. Edolphus Metropolitan areas (NY), Rep. Maxine Waters (CA), Rep. Diane Watson (CA), Associate. Mel Watt (NC), and you may Representative. Al Wynn (MD)
An expenses to help you ban people, concerning an excellent subprime federally associated real estate loan, of bringing mortgage financing service otherwise financial broker features unless of course such body’s authoritative of the Assistant off Homes and you can Metropolitan Advancement and also already been sufficiently given it reference to subprime credit
An expenses in order to demand restrictions and you will constraints on highest-rates mortgage loans, to help you enhance brand new permissible fees and you will costs for the certain kinds of loans, in order to ban unfair otherwise deceptive lending means, and enable public education and you may guidance from the predatory lenders. Known as the new Miller-Watt-Honest statement.
Help home ownership and you can in control lending (H.Scam.Res. 127) 110th Congress Introduced of the Rep. Elijah Cummings (MD) Cosponsored because of the Rep. Keith Ellison (MN)
An excellent concurrent resolution declaring the sense of Congress one to guidelines would be to end up being passed one to protects consumers have been sufferers from unethical mortgage brokers and you may loan providers.
Supporting the purpose of improved and you can green homeownership regarding Joined Says (H.Fraud.Res. 392) 110th Congress Delivered because of the Associate. Alcee Hastings (FL) Cosponsored from the 8 other members of Congress also CBC players Agent. Sanford Bishop (CA), Associate. Artur Davis (AL), Associate. Al Environmentally friendly (TX), Associate. Carolyn Kilpatrick (MI), Representative. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you will Representative. Barbara Lee (CA)
A beneficial concurrent quality giving support to the aim of increased and you may green homeownership in the usa and you may recognizing the necessity of homeownership applications, fair credit regulations, and you may reasonable construction guidelines in achieving one to mission.
Fudge outlined a strict certification program having lenders and you may representatives whom situation subprime funds plus a sleek procedure having processing problems up against shady agents and you can agents
Taking the newest disparities that will be associated with the predatory credit within the fraction groups (H.Swindle.Res. 391) 110th Congress Brought because of the Yvette Clarke (NY) Cosponsored by Agent. Edolphus Locations (NY)
A great concurrent resolution taking the brand new disparities which might be in the predatory credit violations inside the minority teams and you will expressing the sense of your Congress you to definitely due to the fact new violations always appear, such rules is always to make certain that each one of these guilty of representing and you may securing household feel the power to act to deal with these types of the latest trouble.
Financial Reform and you will Anti-Predatory Credit Operate (H.Roentgen. 1728) 111th Congress Lead from the Agent. Mel Watt (NC) which have Associate. Brad Miller (NC) and you may Representative. Barney Honest (MA) Cosponsored by four most other members of Congress
An expenses to change consumer financial practices and offer responsibility getting such strategies as well as provide online personal loans New Hampshire particular lowest conditions getting individual mortgages.
Representatives Maxine Waters (CA-43) and pioned the situation out of fair credit by the launching laws in order to bring responsible lending practices. In the 2001, Agent. Waters, a leader towards economic products inside Congress and you may blunt critic out-of predatory financing means, delivered brand new Securing All of our Communities regarding Predatory Lending Operate. The bill are aimed at protecting individuals off losing homes to predatory financing by, on top of other things, prohibiting lenders of and then make untrue, inaccurate, or misleading statements otherwise steering customers for the greater risk funds than they would if not be eligible for. Inside her 2009 Predatory Mortgage Credit Practices Protection Work, CBC settee Representative.
A costs so you can approve new Secretary from Property and you can Urban Advancement while making has in order to Claims, products out of state government, and you can nonprofit teams to possess guidance and you can studies software into the avoidance regarding predatory financing and introduce a cost-100 % free phone number for problems away from predatory credit.
