Brand new Ban Predatory Credit Act (H. Mel Watt (NC) that have Representative. Brad Miller (NC) and you will Representative. Barney Honest (MA) Cosponsored from the 65 people in Congress and additionally CBC people Associate. Sanford Bishop (GA), Representative. Corrine Brownish (FL), Associate. Grams.K. Butterfield (NC), Associate. Julia Carson (IN), Del. Donna Christensen (VI), Associate. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Associate. John Conyers (MI), Associate. Elijah Cummings (MD), Associate. Artur Davis (AL), Agent. Chaka Fattah (PA), Agent. Harold Ford Jr. (TN), Agent. Al Environmentally friendly (TX), Associate. Jesse Jackson Jr. (IL), Agent. Sheila Jackson-Lee (TX), Rep. William Jefferson (LA), Representative. Eddie Bernice Johnson (TX), Representative. Stephanie Tubbs Jones (OH), Representative. Carolyn Kilpatrick (MI), Agent. Barbara Lee (CA), Rep. John Lewis (GA), Associate. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Agent. Gregory Meeks (NY), Representative. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Agent. Biggest Owens (NY), Agent. Donald Payne (NJ), Rep. Charles Rangel (NY), Associate. Bobby Hurry (IL), Agent. David Scott (GA), Representative. Bobby Scott (VA), Associate. Bennie Thompson (MS), Associate. Edolphus Towns and cities (NY), Agent. Maxine Waters (CA), Associate. Diane Watson (CA), Representative. Mel Watt (NC), and you can Agent. Al Wynn (MD)
A bill in order to exclude anybody, concerning good subprime federally associated mortgage, of getting financial financing provider or financial brokerage functions except if including body is specialized of the Secretary out-of Casing and you may Urban Development features already been effectively trained with reference to subprime credit
A statement to demand limitations and you will restrictions towards the large-cost mortgages, in order to update the newest permissible charge and fees on certain types of fund, so you’re able to prohibit unfair otherwise inaccurate financing techniques, also to provide for public education and you will guidance from the predatory loan providers. Called new Miller-Watt-Frank statement.
Support home ownership and you will in control financing (H.Swindle.Res. 127) 110th Congress Introduced by Agent. Elijah Cummings (MD) Cosponsored because of the Representative. Keith Ellison (MN)
An effective concurrent solution declaring the feeling from Congress you to definitely guidelines is always to feel passed you to definitely handles consumers who were sufferers off unethical home loans and you will loan providers.
Supporting the aim of improved and you can renewable homeownership regarding United States (H.Con.Res. 392) 110th Congress Produced by Associate. Alcee Hastings (FL) Cosponsored because of the 8 most other people in Congress together with CBC users Rep. Sanford Bishop (CA), Rep. Artur Davis (AL), Representative. Al Green (TX), Rep. Carolyn Kilpatrick (MI), Representative. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and Representative. Barbara Lee (CA)
An excellent concurrent resolution supporting the purpose of increased and renewable homeownership in america and you may accepting the significance of homeownership applications, reasonable credit laws and regulations, and you can reasonable homes laws during the achieving that mission.
Fudge detail by detail a rigid degree program having lenders and agents who thing subprime financing and a streamlined techniques to possess filing grievances title loan Rhode Island facing shady agents and agents
Taking the fresh new disparities that are associated with the predatory lending for the minority communities (H.Fraud.Res. 391) 110th Congress Delivered from the Yvette Clarke (NY) Cosponsored of the Agent. Edolphus Places (NY)
An excellent concurrent resolution acknowledging the brand new disparities that will be in the predatory financing abuses inside the fraction organizations and you may saying the sense of one’s Congress that as the newest abuses consistently emerge, particularly regulations is always to make sure that these accountable for representing and protecting group have the authority to do something to handle these types of the brand new troubles.
Financial Change and you may Anti-Predatory Financing Act (H.Roentgen. 1728) 111th Congress Put from the Rep. Mel Watt (NC) that have Representative. Brad Miller (NC) and you may Representative. Barney Frank (MA) Cosponsored from the four other people in Congress
A costs so you can change consumer mortgage methods and provide accountability having particularly strategies as well as offer particular minimal criteria to own consumer mortgages.
Representatives Maxine Waters (CA-43) and you may pioned the situation out-of fair credit by introducing legislation to help you render responsible lending means. When you look at the 2001, Rep. Oceans, a leader into economic issues in the Congress and outspoken critic out-of predatory financing practices, put the new Securing All of our Communities of Predatory Credit Work. The balance try intended for protecting consumers away from losing land to predatory lending by, on top of other things, prohibiting mortgage brokers off and then make not the case, deceptive, otherwise mistaken comments or direction consumers towards the greater risk loans than they would otherwise be eligible for. In her own 2009 Predatory Mortgage Lending Techniques Cures Operate, CBC chair Associate.
A bill so you can approve the newest Assistant out of Property and Urban Invention while making has to Claims, units away from state government, and you can nonprofit groups getting guidance and you may knowledge software for the reduction out-of predatory financing also to introduce a cost-100 % free contact number to possess grievances of predatory financing.
