Brand new Ban Predatory Credit Work (H. Mel Watt (NC) that have Associate. Brad Miller (NC) and you may Associate. Barney Frank (MA) Cosponsored because of the 65 members of Congress and CBC professionals Agent. Sanford Bishop (GA), Associate. Corrine Brownish (FL), Associate. G.K. Butterfield (NC), Agent. Julia Carson (IN), Del. Donna Christensen (VI), Rep. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Associate. John Conyers (MI), Associate. Elijah Cummings (MD), Representative. Artur Davis (AL), Rep. Chaka Fattah (PA), Rep. Harold Ford Jr. (TN), Agent. Al Environmentally friendly (TX), Associate. Jesse Jackson Jr. (IL), Representative. Sheila Jackson-Lee (TX), Rep. William Jefferson (LA), Rep. Eddie Bernice Johnson (TX), Representative. Stephanie Tubbs Jones (OH), bad credit installment loans Oregon Agent. Carolyn Kilpatrick (MI), Rep. Barbara Lee (CA), Rep. John Lewis (GA), Rep. Cynthia McKinney (GA), Agent. Kendrick Meek (FL), Agent. Gregory Meeks (NY), Rep. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Agent. Biggest Owens (NY), Rep. Donald Payne (NJ), Agent. Charles Rangel (NY), Agent. Bobby Rush (IL), Rep. David Scott (GA), Rep. Bobby Scott (VA), Agent. Bennie Thompson (MS), Rep. Edolphus Towns (NY), Associate. Maxine Seas (CA), Associate. Diane Watson (CA), Agent. Mel Watt (NC), and you can Rep. Al Wynn (MD)
An expenses to exclude people, regarding the a good subprime federally associated mortgage loan, out-of taking mortgage financing solution or home loan broker functions until for example body’s formal because of the Secretary out of Homes and you can Metropolitan Development and has started sufficiently trained with reference to subprime credit
A statement so you can enforce constraints and you can constraints towards high-cost mortgages, so you can enhance the latest permissible charge and you may fees for the certain types of finance, so you can exclude unfair or inaccurate lending means, and also to allow for social education and you can counseling from the predatory lenders. Known as the fresh new Miller-Watt-Frank costs.
Supporting owning a home and you will in control credit (H.Ripoff.Res. 127) 110th Congress Put of the Representative. Elijah Cummings (MD) Cosponsored by Associate. Keith Ellison (MN)
A good concurrent solution saying the feeling out-of Congress you to guidelines is to getting introduced you to definitely handles customers who were victims out-of unscrupulous mortgage brokers and you may loan providers.
Supporting the purpose of increased and you will alternative homeownership throughout the United Says (H.Con.Res. 392) 110th Congress Brought because of the Agent. Alcee Hastings (FL) Cosponsored by 8 most other people in Congress together with CBC members Agent. Sanford Bishop (CA), Agent. Artur Davis (AL), Associate. Al Environmentally friendly (TX), Agent. Carolyn Kilpatrick (MI), Representative. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you will Rep. Barbara Lee (CA)
An effective concurrent resolution giving support to the goal of enhanced and you may renewable homeownership in the united states and you may acknowledging the importance of homeownership software, fair credit rules, and you may fair casing legislation from inside the gaining you to definitely mission.
Fudge detail by detail a rigorous degree program to own mortgage brokers and representatives just who matter subprime financing as well as a sleek techniques to own filing problems facing dishonest agents and you may agencies
Recognizing the new disparities that are associated with the predatory credit inside the minority teams (H.Fraud.Res. 391) 110th Congress Produced by Yvette Clarke (NY) Cosponsored of the Representative. Edolphus Metropolises (NY)
A good concurrent quality acknowledging brand new disparities which can be of predatory financing violations when you look at the fraction organizations and you can declaring the sense of your own Congress one to because the the latest violations always appear, instance laws and regulations would be to make sure every one of these accountable for representing and you may securing family members feel the power to do something to address this type of brand new troubles.
Mortgage Reform and Anti-Predatory Credit Act (H.Roentgen. 1728) 111th Congress Put of the Representative. Mel Watt (NC) with Associate. Brad Miller (NC) and Agent. Barney Frank (MA) Cosponsored by the five other members of Congress
A costs so you can change user home loan strategies and provide accountability to own such as for example methods and also to offer specific minimal standards to own consumer mortgage loans.
Agencies Maxine Seas (CA-43) and you may pioned the challenge of fair financing by the releasing legislation to render responsible lending practices. Within the 2001, Associate. Oceans, a frontrunner into economic situations in the Congress and you can outspoken critic regarding predatory financing methods, lead the fresh Securing All of our Teams off Predatory Credit Operate. The balance are geared towards protecting borrowers from dropping homes so you can predatory financing because of the, on top of other things, prohibiting mortgage brokers out-of and come up with untrue, deceptive, otherwise misleading comments or direction consumers into greater risk fund than simply they’d otherwise be eligible for. Within her 2009 Predatory Mortgage Lending Means Avoidance Act, CBC settee Associate.
A costs so you can authorize the fresh new Assistant of Homes and you may Metropolitan Creativity while making has so you’re able to States, gadgets out of state, and you can nonprofit organizations to own counseling and you may studies applications for the reduction regarding predatory financing and establish a cost-100 % free number having issues regarding predatory credit.