This new Prohibit Predatory Lending Act (H. Mel Watt (NC) with Representative. Brad Miller (NC) and Associate. Barney Frank (MA) Cosponsored by 65 people in Congress along with CBC participants Agent. Sanford Bishop (GA), Rep. Corrine Brownish (FL), Representative. G.K. Butterfield (NC), Representative. Julia Carson (IN), Del. Donna Christensen (VI), Agent. Wm. Lacy Clay (MO), Representative. James Clyburn (SC), Associate. John Conyers (MI), Associate. Elijah Cummings (MD), Rep. Artur Davis (AL), Representative. Chaka Fattah (PA), Representative. Harold Ford Jr. (TN), Rep. Al Green (TX), Representative. Jesse Jackson Jr. (IL), Agent. Sheila Jackson-Lee (TX), Agent. William Jefferson (LA), Representative. Eddie Bernice Johnson (TX), Rep. Stephanie Tubbs Jones (OH), Rep. Carolyn Kilpatrick (MI), Representative. Barbara Lee (CA), Agent. John Lewis (GA), Representative. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Agent. Gregory Meeks (NY), Associate. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Agent. Big Owens (NY), Agent. Donald Payne (NJ), Associate. Charles Rangel (NY), Rep. Bobby Hurry (IL), Rep. David Scott (GA), Agent. Bobby Scott (VA), Rep. Bennie Thompson (MS), Associate. Edolphus Metropolises (NY), Representative. Maxine Oceans (CA), Rep. Diane Watson (CA), Associate. Mel Watt (NC), and Associate. Al Wynn (MD)
A statement in order to exclude anybody, to the a great subprime federally relevant real estate loan, regarding getting home loan financing provider otherwise financial brokerage qualities until for example person is official by the Secretary off Construction and Metropolitan Development and has now come acceptably given it mention of the subprime financing
A statement so you can enforce constraints and you may restrictions towards higher-costs mortgages, in order to enhance the fresh new permissible costs and you can costs for the certain types of money, to help you exclude unjust or misleading financing means, also to permit personal studies and you will counseling throughout the predatory lenders. Also known as new Miller-Watt-Honest bill.
Support home ownership and in charge financing (H.Ripoff.Res. 127) 110th Congress Put because of the Agent. Elijah Cummings (MD) Cosponsored because of the Agent. Keith Ellison (MN)
A good concurrent quality expressing the feeling away from Congress one statutes should end up being enacted that handles consumers who have been sufferers regarding dishonest home loans and you will lenders.
Supporting the aim of enhanced and green homeownership regarding United Says (H.Scam.Res. 392) 110th Congress Introduced by the Representative. Alcee Hastings (FL) Cosponsored by the 8 almost every other people in Congress along with CBC people Agent. Sanford Bishop (CA), Representative. Artur Davis (AL), Agent. Al Eco-friendly (TX), Rep. Carolyn Kilpatrick (MI), Agent. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you will Agent. Barbara Lee (CA)
An effective concurrent resolution supporting the purpose of increased and you may renewable homeownership in the us and you can acknowledging the necessity of homeownership software, fair credit rules, and reasonable construction laws and regulations payday loan in Storrs CT inside the achieving you to definitely purpose.
Fudge detailed a rigorous qualification system having lenders and you will agents exactly who question subprime finance including a sleek processes to own processing problems facing unethical agents and you will agencies
Taking the brand new disparities which can be with the predatory lending inside minority teams (H.Scam.Res. 391) 110th Congress Put because of the Yvette Clarke (NY) Cosponsored by the Rep. Edolphus Towns (NY)
An excellent concurrent resolution acknowledging the fresh new disparities that will be in the predatory credit abuses inside the minority teams and stating the sense of your own Congress that while the new violations consistently arise, eg regulations is make sure that all those accountable for representing and you will protecting family members feel the power to act to deal with such the newest trouble.
Financial Reform and you may Anti-Predatory Lending Operate (H.Roentgen. 1728) 111th Congress Introduced by the Rep. Mel Watt (NC) which have Associate. Brad Miller (NC) and you will Representative. Barney Honest (MA) Cosponsored from the five other members of Congress
A costs to change individual mortgage strategies and offer accountability having like methods as well as to promote particular minimal requirements to have user mortgages.
Agencies Maxine Waters (CA-43) and pioned the situation away from reasonable financing because of the opening legislation in order to provide in charge credit means. For the 2001, Associate. Oceans, a frontrunner on the financial issues in Congress and blunt critic out of predatory lending strategies, produced new Protecting All of our Organizations from Predatory Credit Work. The balance are aimed at protecting consumers from losing land so you can predatory credit by, among other things, prohibiting lenders out-of and work out incorrect, misleading, otherwise misleading comments or direction customers on the greater risk fund than they would if not qualify for. In her 2009 Predatory Mortgage Lending Strategies Protection Act, CBC couch Representative.
A costs in order to authorize the Assistant out-of Property and you can Urban Development and make features to States, devices from state government, and nonprofit communities to possess guidance and you will knowledge software toward cures regarding predatory financing and to present a toll-totally free telephone number to possess issues away from predatory financing.