Letter to House Financial Services Committee Re: Responsible Lending Act
Responsible_Lending.pdf | 29.0 KB
April 11, 2005
If enacted, the bill would devastate current legal restrictions and likely would lead to an increase in predatory lending. In addition to preempting state laws of any kind protecting homeowners, the bill would dismantle current prohibitions against predatory lending in the federal law as well as key avenues of consumer redress.