The brand new Prohibit Predatory Financing Act (H. Mel Watt (NC) which have Representative. Brad Miller (NC) and you may Associate. Barney Frank (MA) Cosponsored because of the 65 people in Congress and CBC players Associate. Sanford Bishop (GA), Representative. Corrine Brown (FL), Representative. G.K. Butterfield (NC), Agent. Julia Carson (IN), Del. Donna Christensen (VI), Representative. Wm. Lacy Clay (MO), Agent. James Clyburn (SC), Agent. John Conyers (MI), Rep. Elijah Cummings (MD), Rep. Artur Davis (AL), Agent. Chaka Fattah (PA), Associate. Harold Ford Jr. (TN), Representative. Al Eco-friendly (TX), Associate. Jesse Jackson Jr. (IL), Associate. Sheila Jackson-Lee (TX), Associate. William Jefferson (LA), Agent. Eddie Bernice Johnson (TX), Representative. Stephanie Tubbs Jones (OH), Representative. Carolyn Kilpatrick (MI), Associate. Barbara Lee (CA), Rep. John Lewis (GA), Agent. Cynthia McKinney (GA), Agent. Kendrick Meek (FL), Associate. Gregory Meeks (NY), Rep. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Representative. Significant Owens (NY), Representative. Donald Payne (NJ), Associate. Charles Rangel (NY), Representative. Bobby Hurry (IL), Associate. David Scott (GA), Representative. Bobby Scott (VA), Representative. Bennie Thompson (MS), Representative. Edolphus Places (NY), Rep. Maxine Waters (CA), Representative. Diane Watson (CA), Agent. Mel Watt (NC), and you may Agent. Al Wynn (MD)
A bill so you’re able to prohibit any individual, concerning a good subprime federally related mortgage, of delivering mortgage credit provider or mortgage brokerage functions until eg body’s official by Secretary out-of Housing and you can Urban Invention and also been acceptably given it reference to subprime financing
A bill to help you enforce restrictions and you may constraints towards higher-prices mortgage loans, in order to enhance the brand new permissible fees and you may charge to the certain kinds of financing, so you’re able to ban unjust otherwise deceptive credit means, also to provide for public training and you may guidance throughout the predatory loan providers. Known as this new Miller-Watt-Honest bill.
Support home ownership and you will responsible financing (H.Fraud.Res. 127) 110th Congress Introduced from the Associate. Elijah Cummings (MD) Cosponsored by the Representative. Keith Ellison (MN)
A good concurrent resolution saying the sense from Congress you to definitely regulations will be feel enacted that protects people who have been subjects out of unethical home loans and you will loan providers.
Supporting the goal of improved and you will sustainable homeownership on Joined Says (H.Ripoff.Res. 392) 110th Congress Delivered because of the Rep. Alcee Hastings (FL) Cosponsored from the 8 other people in Congress along with CBC professionals Representative title loans in Idaho. Sanford Bishop (CA), Representative. Artur Davis (AL), Representative. Al Eco-friendly (TX), Associate. Carolyn Kilpatrick (MI), Representative. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you will Agent. Barbara Lee (CA)
Good concurrent resolution giving support to the purpose of increased and alternative homeownership in the united states and you may recognizing the importance of homeownership software, fair financing guidelines, and you will fair houses statutes from inside the gaining you to mission.
Fudge intricate a tight qualification system having mortgage brokers and you can agencies whom topic subprime financing as well as a smooth techniques getting filing problems facing unethical agents and agents
Acknowledging the latest disparities which might be on the predatory financing in minority communities (H.Fraud.Res. 391) 110th Congress Put from the Yvette Clarke (NY) Cosponsored of the Associate. Edolphus Places (NY)
A great concurrent solution recognizing brand new disparities that are regarding the predatory credit violations in minority organizations and you may saying the feeling of the Congress one to since the the fresh abuses always appear, particularly laws is guarantee that each one of these guilty of representing and you may securing family members have the power to act to handle this type of the latest issues.
Home loan Reform and you will Anti-Predatory Credit Operate (H.Roentgen. 1728) 111th Congress Delivered by Rep. Mel Watt (NC) which have Agent. Brad Miller (NC) and you can Representative. Barney Frank (MA) Cosponsored by five most other people in Congress
A costs so you’re able to reform user mortgage techniques and offer accountability to have such as for instance means and to bring particular lowest criteria getting user mortgages.
Agencies Maxine Seas (CA-43) and you will pioned the challenge out of fair credit by the establishing guidelines to bring in control credit methods. Inside 2001, Representative. Waters, a chief towards the financial affairs into the Congress and you may blunt critic off predatory credit practices, put the brand new Securing The Teams away from Predatory Credit Operate. The bill try geared towards securing consumers away from dropping home so you’re able to predatory credit by, among other things, prohibiting mortgage brokers out of and then make not true, deceptive, or misleading comments otherwise direction customers into the higher risk finance than just they’d or even be eligible for. In her 2009 Predatory Financial Lending Techniques Avoidance Operate, CBC couch Representative.
A costs in order to authorize the fresh new Assistant regarding Housing and you may Urban Creativity and come up with gives in order to States, products regarding state government, and you will nonprofit communities to own counseling and you will training apps towards the cures regarding predatory credit in order to present a cost-totally free phone number getting problems away from predatory financing.