The brand new Prohibit Predatory Financing Act (H. Mel Watt (NC) which have Associate. Brad Miller (NC) and Associate. Barney Frank (MA) Cosponsored of the 65 members of Congress along with CBC professionals Associate. Sanford Bishop (GA), Representative. Corrine Brown (FL), Agent. Grams.K. Butterfield (NC), Agent. Julia Carson (IN), Del. Donna Christensen (VI), Agent. Wm. Lacy Clay (MO), Representative. James Clyburn (SC), Representative. John Conyers (MI), Representative. Elijah Cummings (MD), Associate. Artur Davis (AL), Associate. Chaka Fattah (PA), Representative. Harold Ford Jr. (TN), Rep. Al Environmentally friendly (TX), Representative. Jesse Jackson Jr. (IL), Agent. Sheila Jackson-Lee (TX), Rep. William Jefferson (LA), Agent. Eddie Bernice Johnson (TX), Rep. Stephanie Tubbs Jones (OH), Representative. Carolyn Kilpatrick (MI), Representative. Barbara Lee (CA), Rep. John Lewis (GA), Associate. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Associate. Gregory Meeks (NY), Associate. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Agent. Biggest Owens (NY), Associate. Donald Payne (NJ), Associate. Charles Rangel (NY), Representative. Bobby Hurry (IL), Agent. David Scott (GA), Agent. Bobby Scott (VA), Associate. Bennie Thompson (MS), Associate. Edolphus Towns (NY), Rep. Maxine Seas (CA), Representative. Diane Watson (CA), Rep. Mel Watt (NC), and you may Associate. Al Wynn (MD)
A statement to exclude individuals, concerning the an excellent subprime federally relevant home mortgage, out-of bringing financial lending services otherwise home loan broker attributes until such as for instance person is specialized because of the Assistant out of Construction and you may Metropolitan Invention features been sufficiently trained with reference to subprime lending
A bill to help you impose restrictions and limitations for the highest-rates mortgages, in order to update the newest permissible fees and you may fees on certain kinds of fund, so you’re able to ban unjust otherwise inaccurate credit practices, also to enable personal studies and you may counseling in the predatory lenders. Labeled as brand new Miller-Watt-Honest expenses.
Support home ownership and you will responsible financing (H.Ripoff.Res. 127) 110th Congress Delivered of the Agent. Elijah Cummings (MD) Cosponsored by Representative. Keith Ellison (MN)
An effective concurrent resolution declaring the sense out of Congress you to regulations is end up being introduced you to definitely payday loan places in Ball Pond covers people who had been subjects of dishonest home loans and you can lenders.
Giving support to the purpose of increased and you may renewable homeownership regarding the United Says (H.Fraud.Res. 392) 110th Congress Introduced of the Agent. Alcee Hastings (FL) Cosponsored by 8 almost every other members of Congress including CBC players Rep. Sanford Bishop (CA), Rep. Artur Davis (AL), Rep. Al Green (TX), Rep. Carolyn Kilpatrick (MI), Agent. Kendrick Meek (FL), Rep. Stephanie Tubbs Jones (OH), and Rep. Barbara Lee (CA)
An effective concurrent quality giving support to the aim of improved and green homeownership in the usa and acknowledging the necessity of homeownership software, fair financing guidelines, and you will fair housing legislation when you look at the achieving one purpose.
Fudge detail by detail a rigid certification program getting mortgage brokers and you may representatives whom procedure subprime funds including a sleek process having filing complaints up against unethical brokers and you may representatives
Accepting the disparities which can be associated with the predatory credit in minority communities (H.Swindle.Res. 391) 110th Congress Put by the Yvette Clarke (NY) Cosponsored by the Associate. Edolphus Towns (NY)
Good concurrent resolution acknowledging the brand new disparities that are associated with predatory financing violations during the fraction teams and you will declaring the feeling of one’s Congress that as the new abuses continue steadily to appear, particularly legislation will be make sure that all those responsible for representing and you can securing families feel the authority to do something to deal with this type of the latest problems.
Financial Reform and you will Anti-Predatory Lending Act (H.Roentgen. 1728) 111th Congress Lead from the Rep. Mel Watt (NC) with Agent. Brad Miller (NC) and Associate. Barney Frank (MA) Cosponsored by the four almost every other members of Congress
A costs so you’re able to change consumer financial methods and supply responsibility for including methods and also to render particular minimal conditions to have individual mortgage loans.
Agents Maxine Waters (CA-43) and you may pioned the trouble out-of reasonable lending by the unveiling laws to give in control credit techniques. Inside the 2001, Representative. Seas, a chief into the financial points into the Congress and you will outspoken critic away from predatory credit techniques, brought the latest Securing Our Organizations away from Predatory Financing Operate. The bill is intended for securing individuals out of dropping homes so you’re able to predatory lending by, among other things, prohibiting lenders from and work out incorrect, inaccurate, or misleading comments or steering consumers towards greater risk funds than just they might if not qualify for. Within her 2009 Predatory Financial Lending Techniques Prevention Work, CBC sofa Representative.
A costs to approve the brand new Secretary out of Houses and you may Urban Creativity and also make gives to help you Claims, devices of state, and you may nonprofit communities to possess guidance and you can studies software towards protection of predatory credit and to establish a cost-free phone number to have grievances out-of predatory lending.