The latest Prohibit Predatory Lending Act (H. Mel Watt (NC) having Associate. Brad Miller (NC) and Associate. Barney Frank (MA) Cosponsored by 65 people in Congress and CBC participants Associate. Sanford Bishop (GA), Representative. Corrine Brown (FL), Agent. Grams.K. Butterfield (NC), Representative. Julia Carson (IN), Del. Donna Christensen (VI), Associate. Wm. Lacy Clay (MO), Representative. James Clyburn (SC), Representative. John Conyers (MI), Rep. Elijah Cummings (MD), Associate. Artur Davis (AL), Rep. Chaka Fattah (PA), Associate. Harold Ford Jr. (TN), Agent. Al Green (TX), Associate. Jesse Jackson Jr. (IL), Rep. Sheila Jackson-Lee (TX), Rep. William Jefferson (LA), Rep. Eddie Bernice Johnson (TX), Associate. Stephanie Tubbs Jones (OH), Associate. Carolyn Kilpatrick (MI), Rep. Barbara Lee (CA), Representative. John Lewis (GA), Agent. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Associate. Gregory Meeks (NY), Representative. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Representative. Major Owens (NY), Representative. Donald Payne (NJ), Rep. Charles Rangel (NY), Agent. Bobby Hurry (IL), Agent. David Scott (GA), Representative. Bobby Scott (VA), Representative. Bennie Thompson (MS), Rep. Edolphus Towns and cities (NY), Agent. Maxine Waters (CA), Representative. Diane Watson (CA), Agent. Mel Watt (NC), and Rep. Al Wynn (MD)
An expenses so you’re able to exclude people, in connection with a good subprime federally related mortgage, off getting financial credit service or home loan broker features unless of course for example body is authoritative from the Secretary of Construction and you will Metropolitan Development and also been adequately given it regard to subprime financing
A statement so you can impose restrictions and you can restrictions into the large-rates mortgage loans, in order to enhance this new permissible charge and you will charges on certain types of fund, in order to ban unjust otherwise deceptive financing methods, also to provide for public knowledge and you can counseling regarding predatory loan providers. Known as the fresh new Miller-Watt-Honest bill.
Support home ownership and you may in charge credit (H.Ripoff.Res. 127) 110th Congress Lead because of the Associate. Elijah Cummings Danielson loans (MD) Cosponsored by Rep. Keith Ellison (MN)
A good concurrent resolution declaring the sense of Congress you to definitely laws would be to getting introduced that protects people who had been victims off unscrupulous mortgage brokers and loan providers.
Giving support to the aim of enhanced and you will renewable homeownership in the United Says (H.Fraud.Res. 392) 110th Congress Produced from the Agent. Alcee Hastings (FL) Cosponsored by 8 almost every other people in Congress in addition to CBC people Agent. Sanford Bishop (CA), Rep. Artur Davis (AL), Agent. Al Environmentally friendly (TX), Rep. Carolyn Kilpatrick (MI), Rep. Kendrick Meek (FL), Representative. Stephanie Tubbs Jones (OH), and you will Rep. Barbara Lee (CA)
A beneficial concurrent quality supporting the aim of increased and you can sustainable homeownership in the united states and you can accepting the significance of homeownership applications, fair lending statutes, and reasonable construction statutes in reaching that mission.
Fudge intricate a strict degree program to own mortgage brokers and representatives who matter subprime loans along with a smooth processes to own filing complaints facing dishonest brokers and you may agents
Recognizing the newest disparities that will be of predatory financing inside the minority teams (H.Fraud.Res. 391) 110th Congress Introduced of the Yvette Clarke (NY) Cosponsored from the Representative. Edolphus Locations (NY)
Good concurrent resolution acknowledging the new disparities that are associated with the predatory lending abuses within the minority organizations and you can stating the feeling of your own Congress you to definitely because the fresh new violations consistently emerge, such as for instance laws would be to make certain that each one of these accountable for representing and you will securing household have the authority to behave to deal with this type of the new troubles.
Mortgage Reform and Anti-Predatory Financing Act (H.Roentgen. 1728) 111th Congress Brought from the Rep. Mel Watt (NC) that have Associate. Brad Miller (NC) and you will Associate. Barney Frank (MA) Cosponsored of the four other people in Congress
A bill so you can change individual home loan practices and offer responsibility having including means and to offer certain minimum conditions to possess consumer mortgage loans.
Representatives Maxine Seas (CA-43) and you will pioned the issue out-of fair financing from the introducing statutes in order to give in control financing practices. Into the 2001, Associate. Waters, a leader with the financial factors into the Congress and blunt critic off predatory credit practices, introduced the new Securing Our Organizations out of Predatory Financing Act. The balance was aimed at protecting borrowers from shedding house so you can predatory lending of the, on top of other things, prohibiting lenders out of to make untrue, misleading, otherwise mistaken statements otherwise steering people to your greater risk funds than just they would if you don’t be eligible for. Inside her 2009 Predatory Financial Lending Strategies Cures Act, CBC sofa Representative.
An expenses so you’re able to approve the brand new Assistant away from Casing and you can Metropolitan Innovation and work out has in order to States, equipment away from state government, and you will nonprofit organizations for guidance and you will studies software with the avoidance off predatory credit and present a toll-free telephone number having problems off predatory credit.