The brand new Prohibit Predatory Credit Work (H. Mel Watt (NC) having Associate. Brad Miller (NC) and Representative. Barney Honest (MA) Cosponsored from the 65 people in Congress together with CBC players Representative. Sanford Bishop (GA), Associate. Corrine Brown (FL), Rep. Grams.K. Butterfield (NC), Rep. Julia Carson (IN), Del. Donna Christensen (VI), Agent. Wm. Lacy Clay (MO), Agent. James Clyburn (SC), Associate. John Conyers (MI), Agent. Elijah Cummings (MD), Rep. Artur Davis (AL), Associate. Chaka Fattah (PA), Representative. Harold Ford Jr. (TN), Agent. Al Eco-friendly (TX), Rep. Jesse Jackson Jr. (IL), Representative. Sheila Jackson-Lee (TX), Agent. William Jefferson (LA), Associate. Eddie Bernice Johnson (TX), Agent. Stephanie Tubbs Jones (OH), Representative. Carolyn Kilpatrick (MI), Representative. Barbara Lee (CA), Agent. John Lewis (GA), Agent. Cynthia McKinney (GA), Rep. Kendrick Meek (FL), Agent. Gregory Meeks (NY), Associate. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Rep. Biggest Owens (NY), Agent. Donald Payne (NJ), Associate. Charles Rangel (NY), Rep. Bobby Hurry (IL), Representative. David Scott (GA), Representative. Bobby Scott (VA), Agent. Bennie Thompson (MS), Representative. Edolphus Locations (NY), Associate. Maxine Oceans (CA), Rep. Diane Watson (CA), Agent. Mel Watt (NC), and you can Rep. Al Wynn (MD)
A costs to help you ban any person, concerning an excellent subprime federally related mortgage loan, out-of getting home loan lending provider or mortgage brokerage functions unless particularly body’s authoritative by the Assistant from Casing and you may Metropolitan Creativity and has now come adequately given it regard to subprime lending
A costs to help you impose limitations and you can limitations towards the highest-prices mortgage loans, so you’re able to enhance the permissible fees and you may charges into certain kinds of funds, to help you prohibit unjust otherwise misleading credit techniques, in order to permit societal studies and you can counseling throughout the predatory lenders. Labeled as the fresh new Miller-Watt-Frank costs.
Support home ownership and in charge credit (H.Swindle.Res. 127) 110th Congress Introduced by the Representative. Elijah Cummings (MD) Cosponsored because of the Agent. Keith Ellison (MN)
A good concurrent resolution saying the sense regarding Congress one to laws should be passed one handles people who have been victims regarding dishonest home loans and you will loan providers.
Supporting the goal of enhanced and you will alternative homeownership throughout the United Claims (H.Swindle.Res. 392) 110th Congress Lead from the Associate. Alcee Hastings (FL) Cosponsored by 8 most other members of Congress plus CBC members Associate. Sanford Bishop (CA), Associate. Artur Davis (AL), Associate. Al Environmentally friendly (TX), Associate. Carolyn Kilpatrick (MI), Rep. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you may Representative. Barbara Lee (CA)
A great concurrent quality giving support to the goal of increased and you will renewable homeownership in america and you can recognizing the significance of homeownership software, reasonable lending laws and regulations, and you will reasonable property legislation in the finding one to objective.
Fudge outlined a strict certification program to own mortgage brokers and you will agents who procedure subprime loans together with a smooth processes having filing complaints facing shady agents and you may agents
Recognizing the newest disparities that will be regarding the predatory lending when you look at the fraction teams (H.Fraud.Res. 391) 110th Congress Put by Yvette Clarke (NY) Cosponsored from the Rep. Edolphus Cities (NY)
A beneficial concurrent quality acknowledging the latest disparities that will be from the predatory lending abuses from inside the fraction communities and you will expressing the sense of one’s Congress you to definitely once the the latest violations still emerge, including guidelines is to make certain each one of these guilty of symbolizing and you will protecting group have the power to behave to address these the brand new difficulties.
Mortgage Change and you can Anti-Predatory Credit Work (H.R. 1728) 111th Congress Lead by Rep. Mel Watt (NC) having Agent. Brad Miller (NC) and you can Associate. Barney Frank (MA) Cosponsored of the four almost every other people in Congress
A statement to change consumer home loan practices and gives liability having such as for example practices and to promote certain minimum standards to own individual mortgages.
Agencies Maxine Oceans (CA-43) and you will pioned the challenge away from fair lending because of the unveiling laws to help you give responsible credit strategies. During the 2001, Associate. Oceans, a chief into the economic things in Congress and you may blunt critic out of predatory credit methods, introduced the Protecting All of our Groups regarding Predatory Lending Work. The bill is geared towards protecting borrowers away from dropping homes to predatory credit by, among other things, prohibiting mortgage lenders of and then make untrue, misleading, or mistaken statements or direction consumers on the greater risk fund than they’d otherwise be eligible for. Within her 2009 Predatory Financial Financing Means Cures Operate, CBC settee Agent.
A bill so you’re able to approve brand new Secretary from Property and you will Metropolitan Creativity and then make provides to help you loans christmas Claims, devices out-of state government, and you may nonprofit teams to have guidance and you can knowledge software towards the avoidance regarding predatory credit and present a cost-100 % free phone number getting complaints regarding predatory credit.