The new Prohibit Predatory Financing Operate (H. Mel Watt (NC) which have Agent. Brad Miller (NC) and you can Agent. Barney Frank (MA) Cosponsored from the 65 people in Congress including CBC members Associate. Sanford Bishop (GA), Agent. Corrine Brownish (FL), Representative. Grams.K. Butterfield (NC), Associate. Julia Carson (IN), Del. Donna Christensen (VI), Rep. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Agent. John Conyers (MI), Associate. Elijah Cummings (MD), Representative. Artur Davis (AL), Rep. Chaka Fattah (PA), Associate. Harold Ford Jr. (TN), Representative. Al Eco-friendly (TX), Rep. Jesse Jackson Jr. (IL), Representative. Sheila Jackson-Lee (TX), Agent. William Jefferson (LA), Agent. Eddie Bernice Johnson (TX), Representative. Stephanie Tubbs Jones (OH), Representative. Carolyn Kilpatrick (MI), Representative. Barbara Lee (CA), Associate. John Lewis (GA), Representative. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Agent. Gregory Meeks (NY), Agent. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Representative. Biggest Owens (NY), Representative. Donald Payne (NJ), Rep. Charles Rangel (NY), Rep. Bobby Hurry (IL), Associate. David Scott (GA), Associate. Bobby Scott (VA), Rep. Bennie Thompson (MS), Rep. Edolphus Towns (NY), Rep. Maxine Seas (CA), Associate. Diane Watson (CA), Agent. Mel Watt (NC), and you may Associate. Al Wynn (MD)
A statement to help you prohibit individuals, concerning the an excellent subprime federally associated mortgage loan, out of providing mortgage lending provider or financial brokerage characteristics unless for example body’s certified from the Assistant out of Casing and you may Metropolitan Development and it has been effectively given it reference to subprime lending
A statement so you can demand limits and you will constraints on the highest-pricing mortgage loans, in order to enhance the fresh new permissible charges and you will charge towards the certain kinds of finance, so you’re able to ban unfair or deceptive credit practices, and also to provide for social studies and you will guidance in the predatory loan providers. Labeled as the latest Miller-Watt-Frank costs.
Support owning a home and you may responsible financing (H.Scam.Res. 127) 110th Congress Delivered because of the Rep. Elijah Cummings (MD) Cosponsored because of the Rep. Keith Ellison (MN)
A great concurrent resolution stating the sense out of Congress that regulations would be to getting passed one handles customers who had been victims from unscrupulous lenders and lenders.
Giving support to the purpose of improved and you may green homeownership regarding the United Claims (H.Swindle.Res. 392) 110th Congress Brought by Representative. Alcee Hastings (FL) Cosponsored of the 8 almost every other people in Congress including CBC players Agent. Sanford Bishop (CA), Rep. Artur Davis (AL), Representative. Al Green (TX), Agent. Carolyn Kilpatrick (MI), Representative. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you will Agent. Barbara Lee (CA)
A great concurrent quality giving support to the aim of improved and green homeownership in the usa and you will taking the necessity of homeownership https://speedycashloan.net/installment-loans-co/ programs, reasonable credit rules, and fair houses legislation within the achieving one to mission.
Fudge in depth a strict certification system for home loans and you will representatives just who topic subprime finance and a smooth process to have processing grievances up against shady brokers and you can representatives
Taking the fresh new disparities that are with the predatory financing within the minority teams (H.Ripoff.Res. 391) 110th Congress Put by Yvette Clarke (NY) Cosponsored by Rep. Edolphus Places (NY)
Good concurrent solution recognizing the fresh new disparities that will be in the predatory financing abuses from inside the fraction organizations and you may stating the feeling of the Congress that as the new abuses always appear, such laws is always to make sure that these accountable for symbolizing and protecting family members have the power to do something to address these the newest issues.
Home loan Reform and you will Anti-Predatory Lending Work (H.Roentgen. 1728) 111th Congress Produced of the Rep. Mel Watt (NC) which have Rep. Brad Miller (NC) and you will Agent. Barney Honest (MA) Cosponsored by four most other members of Congress
An expenses to help you change consumer mortgage strategies and gives liability to have such as for instance strategies as well as bring specific minimal requirements to own user mortgages.
Agencies Maxine Seas (CA-43) and you will pioned the difficulty off fair financing of the establishing guidelines so you’re able to promote in control lending practices. In the 2001, Representative. Waters, a frontrunner on monetary products when you look at the Congress and you may blunt critic from predatory lending strategies, put new Securing Our Teams regarding Predatory Financing Operate. The bill are aimed at protecting individuals off shedding residential property to predatory credit because of the, among other things, prohibiting mortgage lenders out-of and come up with not true, deceptive, or misleading comments otherwise direction users into the greater risk loans than they will if you don’t be eligible for. In her own 2009 Predatory Home loan Credit Practices Prevention Act, CBC chair Representative.
A bill so you can approve the new Secretary out-of Construction and Urban Creativity and come up with features to help you States, equipment regarding state government, and you will nonprofit teams getting counseling and degree apps towards the reduction away from predatory credit and present a cost-100 % free telephone number to have complaints from predatory lending.