New Prohibit Predatory Credit Work (H. Mel Watt (NC) that have Associate. Brad Miller (NC) and you will Representative. Barney Honest (MA) Cosponsored by the 65 members of Congress plus CBC professionals Associate. Sanford Bishop (GA), Rep. Corrine Brown (FL), Representative. Grams.K. Butterfield (NC), Associate. Julia Carson (IN), Del. Donna Christensen (VI), Rep. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Rep. John Conyers (MI), Associate. Elijah Cummings (MD), Representative. Artur Davis (AL), Agent. Chaka Fattah (PA), Agent. Harold Ford Jr. (TN), Associate. Al Environmentally friendly (TX), Rep. Jesse Jackson Jr. (IL), Agent. Sheila Jackson-Lee (TX), Associate. William Jefferson (LA), Agent. Eddie Bernice Johnson (TX), Agent. Stephanie Tubbs Jones (OH), Associate. Carolyn Kilpatrick (MI), Rep. Barbara Lee (CA), Agent. John Lewis (GA), Agent. Cynthia McKinney (GA), Rep. Kendrick Meek (FL), Representative. Gregory Meeks (NY), Associate. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Associate. Biggest Owens (NY), Representative. Donald Payne (NJ), Rep. Charles Rangel (NY), Associate. Bobby Rush (IL), Representative. David Scott (GA), Representative. Bobby Scott (VA), Rep. Bennie Thompson (MS), Representative. Edolphus Cities (NY), Rep. Maxine Waters (CA), Associate. Diane Watson (CA), Associate. Mel Watt (NC), and you may Representative. Al Wynn (MD)
A statement so you can exclude anyone, to the a subprime federally related real estate loan, out-of getting mortgage credit solution otherwise home loan brokerage features unless including person is certified of the Secretary regarding Property and you will Metropolitan Invention and also already been sufficiently trained with regard to subprime credit
An expenses so you’re able to demand constraints and you can limitations towards highest-pricing mortgage loans, to improve the fresh permissible fees and you may fees to the certain types of money, to ban unfair otherwise inaccurate credit techniques, in order to provide for public degree and counseling from the predatory lenders. Called this new Miller-Watt-Frank expenses.
Supporting owning a home and in charge lending (H.Con.Res. 127) 110th Congress Produced from the Rep. Elijah Cummings (MD) Cosponsored from the Associate. Keith Ellison (MN)
Good concurrent resolution stating the sense from Congress one laws and regulations would be to be passed one handles people have been victims regarding unethical lenders and you will loan providers.
Giving support to the aim of enhanced and you can alternative homeownership from the United Says (H.Swindle.Res. 392) 110th Congress Delivered because of the Agent. Alcee Hastings (FL) Cosponsored because of installment loan Oregon the 8 most other people in Congress in addition to CBC users Rep. Sanford Bishop (CA), Rep. Artur Davis (AL), Agent. Al Eco-friendly (TX), Agent. Carolyn Kilpatrick (MI), Rep. Kendrick Meek (FL), Agent. Stephanie Tubbs Jones (OH), and you may Agent. Barbara Lee (CA)
A concurrent resolution giving support to the aim of increased and you can sustainable homeownership in america and recognizing the significance of homeownership software, reasonable credit laws and regulations, and you can fair casing rules inside achieving one to goal.
Fudge detail by detail a tight degree system getting home loans and you may representatives whom issue subprime financing and additionally a sleek process getting processing complaints facing dishonest brokers and you can representatives
Accepting the fresh new disparities which might be for the predatory credit in the minority communities (H.Ripoff.Res. 391) 110th Congress Brought by the Yvette Clarke (NY) Cosponsored from the Rep. Edolphus Cities (NY)
Good concurrent quality recognizing new disparities that are in the predatory lending abuses inside the minority groups and you can saying the feeling of one’s Congress that due to the fact the brand new violations continue to arise, particularly laws should ensure that each one of these responsible for representing and you can protecting group have the authority to behave to address these types of the latest dilemmas.
Financial Reform and you may Anti-Predatory Financing Act (H.R. 1728) 111th Congress Brought by Associate. Mel Watt (NC) which have Agent. Brad Miller (NC) and you will Agent. Barney Honest (MA) Cosponsored of the four most other members of Congress
A costs so you can change individual home loan means and provide accountability for including means also to promote certain minimal conditions for consumer mortgages.
Agents Maxine Seas (CA-43) and you can pioned the trouble of reasonable lending by the initiating guidelines so you’re able to bring in control financing means. From inside the 2001, Agent. Waters, a leader into monetary items within the Congress and blunt critic out-of predatory financing techniques, produced brand new Securing All of our Organizations of Predatory Credit Operate. The balance is actually geared towards protecting borrowers regarding dropping belongings to predatory financing by, on top of other things, prohibiting mortgage lenders out of and also make incorrect, misleading, otherwise mistaken statements or steering customers with the higher risk loans than simply they will if not qualify for. In her own 2009 Predatory Financial Credit Methods Avoidance Act, CBC couch Associate.
A costs so you’re able to approve the Secretary out of Property and you may Urban Development and make offers to help you States, units regarding state, and you will nonprofit organizations to own counseling and you can training programs on the prevention away from predatory credit and to expose a cost-100 % free contact number to possess complaints regarding predatory financing.