Roentgen. 1182) 109th Congress Put from the Representative

The brand new Ban Predatory Credit Work (H. Mel Watt (NC) having Rep. Brad Miller (NC) and you will Representative. Barney Honest (MA) Cosponsored from the 65 members of Congress as well as CBC members Representative. Sanford Bishop (GA), Rep. Corrine Brown (FL), Rep. G.K. Butterfield (NC), Representative. Julia Carson (IN), Del. Donna Christensen (VI), Representative. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Rep. John Conyers (MI), Rep. Elijah Cummings (MD), Agent. Artur Davis (AL), Representative. Chaka Fattah (PA), Representative. Harold Ford Jr. (TN), Agent. Al Green (TX), Rep. Jesse Jackson Jr. (IL), Rep. Sheila Jackson-Lee (TX), Rep. William Jefferson (LA), Representative. Eddie Bernice Johnson (TX), Agent. Stephanie Tubbs Jones (OH), payday cash loan Missouri Agent. Carolyn Kilpatrick (MI), Rep. Barbara Lee (CA), Representative. John Lewis (GA), Agent. Cynthia McKinney (GA), Agent. Kendrick Meek (FL), Associate. Gregory Meeks (NY), Associate. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Rep. Biggest Owens (NY), Representative. Donald Payne (NJ), Agent. Charles Rangel (NY), Associate. Bobby Rush (IL), Agent. David Scott (GA), Rep. Bobby Scott (VA), Representative. Bennie Thompson (MS), Agent. Edolphus Metropolises (NY), Representative. Maxine Seas (CA), Rep. Diane Watson (CA), Representative. Mel Watt (NC), and you can Rep. Al Wynn (MD)

An expenses so you're able to ban any individual, concerning the a subprime federally associated mortgage, off taking mortgage lending provider or financial broker qualities unless including person is certified by Assistant from Property and you will Metropolitan Innovation and contains already been properly trained with reference to subprime financing

A bill to help you enforce limits and you may restrictions for the highest-prices mortgages, so you can revision the new permissible charge and you will fees with the certain kinds of fund, in order to prohibit unjust or inaccurate credit means, and permit social training and you will counseling in the predatory lenders. Known as the brand new Miller-Watt-Honest statement.

Help home ownership and you will responsible financing (H.Fraud.Res. 127) 110th Congress Brought from the Agent. Elijah Cummings (MD) Cosponsored of the Associate. Keith Ellison (MN)

An excellent concurrent quality expressing the feeling of Congress that legislation is always to getting enacted one handles people who had been subjects off unethical lenders and loan providers.

Supporting the goal of enhanced and you may renewable homeownership from the Joined Says (H.Fraud.Res. 392) 110th Congress Lead by the Agent. Alcee Hastings (FL) Cosponsored of the 8 other people in Congress plus CBC participants Representative. Sanford Bishop (CA), Representative. Artur Davis (AL), Rep. Al Green (TX), Representative. Carolyn Kilpatrick (MI), Rep. Kendrick Meek (FL), Representative. Stephanie Tubbs Jones (OH), and you can Representative. Barbara Lee (CA)

Good concurrent quality giving support to the aim of increased and you can green homeownership in the usa and accepting the importance of homeownership apps, reasonable lending laws and regulations, and you will reasonable housing laws inside achieving you to definitely mission.

Fudge in depth a strict qualification program getting lenders and you will agents exactly who material subprime financing including a streamlined procedure to own submitting complaints against dishonest agents and you may agencies

Taking the brand new disparities which can be on the predatory credit from inside the minority teams (H.Con.Res. 391) 110th Congress Introduced because of the Yvette Clarke (NY) Cosponsored of the Agent. Edolphus Metropolises (NY)

An excellent concurrent solution taking the disparities that are in the predatory lending abuses in the minority organizations and stating the feeling of Congress one to given that this new abuses consistently appear, eg laws and regulations is to guarantee that every one of these guilty of representing and you can protecting family members have the authority to behave to address these types of the fresh new dilemmas.

Mortgage Change and you will Anti-Predatory Lending Act (H.R. 1728) 111th Congress Delivered of the Representative. Mel Watt (NC) which have Associate. Brad Miller (NC) and you will Agent. Barney Honest (MA) Cosponsored from the four other members of Congress

A bill to reform individual financial practices and offer liability to have particularly means also to provide specific lowest conditions for individual mortgages.

Agents Maxine Oceans (CA-43) and you can pioned the trouble regarding reasonable credit from the initiating guidelines in order to render in charge lending practices. For the 2001, Rep. Oceans, a chief toward monetary things inside the Congress and blunt critic out of predatory lending practices, produced the newest Protecting The Communities away from Predatory Lending Work. The bill are geared towards securing borrowers from dropping residential property to help you predatory lending from the, among other things, prohibiting lenders off and also make not true, inaccurate, otherwise mistaken statements otherwise steering customers into greater risk loans than they might or even qualify for. In her own 2009 Predatory Mortgage Credit Techniques Reduction Work, CBC sofa Representative.

A costs to help you approve the newest Assistant of Houses and you can Metropolitan Creativity to make has to help you Claims, units away from local government, and nonprofit teams to own counseling and you can training software with the avoidance regarding predatory financing and to establish a toll-totally free contact number to possess issues out of predatory financing.