TITLE

On my watch, the American dream won't be foreclosed by a nightmare

AUTHOR(S)
Dodd, Christopher J.
PUB. DATE
July 2007
SOURCE
Hill;7/18/2007, Vol. 14 Issue 87, p36
SOURCE TYPE
Newspaper
DOC. TYPE
Editorial
ABSTRACT
The author reflects on the issue concerning predatory lending's effect on Americans lives. He cited a study that estimated that predatory loan will force foreclosure on more than two million American families in the next few years, for this to be eliminated, the federal financial regulators should be responsible on protecting American families. He suggests on introducing legislation, built on the simple principles that lender should not make loans that borrower cannot repay.
ACCESSION #
25817043

 

Related Articles

  • EXPECT COMPROMISE ON FINAL ANTI-PREDATORY LENDING BILL. C. W. // Mortgage Banking;Aug2005, Vol. 65 Issue 11, p14 

    Cites some sort of compromise measure that is expected to result from two competing and recently filed anti-predatory lending bills in the U.S. House of Representatives. Problem posed by any legislation that does not include a uniform national standard; Important aspects of the Responsible...

  • Predatory Legislation Early in '07.  // National Mortgage News;9/25/2006, Vol. 30 Issue 50, p2 

    The article reports on the issues concerning the actions of the Republican and Democratic leaders on the House Financial Services Committee on predatory lending legislation in the U.S. State Legislator Spencer Bachus has told that he plans to issue a draft bill that reflects negotiations he had...

  • Lending Laws Benefit Consumers. Smith, Joseph A. // National Mortgage News;7/25/2005, Vol. 29 Issue 43, p4 

    Focuses on the benefits of anti-predatory lending law for consumers in North Carolina. Increase in liquidity and availability of mortgage finance for consumers at virtually all levels of income and wealth; Action taken by the government in addressing predatory lending; Efforts of state...

  • N.Y. Council Panel Passes Predator Bill. Garver, Rob // American Banker;9/5/2002, Vol. 167 Issue 170, p3 

    Reports on the approval by the New York City Council Consumer Affairs Committee of a legislative bill that would prohibit the city from doing business with companies that are designated as predatory lenders or whose subsidiaries engage in predatory practices. Provisions of the bill.

  • N.Y. City Council Approves Predator Ban. Bergquist, Erick // American Banker;9/26/2002, Vol. 167 Issue 185, p20 

    Reports on the approval of a bill by the New York City Council on September 25, 2002 that will prohibit the city from doing business with companies providing predatory services. Effect of the bill on the companies.

  • More State, Local Regs On Tap? Carver, Rob // National Mortgage News;6/20/2005, Vol. 29 Issue 39, p11 

    Reports on the likelihood for the U.S. Congress to approve the federal anti-predatory lending legislation. Influence of the trends in the mortgage market on the concerns of state and local lawmakers to address the issue; Potential for the steering scandal to emerge in the mortgage market;...

  • New bills target predatory lending. Olson, Scott // Indianapolis Business Journal;3/3/2003, Vol. 23 Issue 52, p19 

    Reports on bills being considered by the Indiana General Assembly which would create protections for homeowners who take out high-cost home equity loans. Prevention of predatory lending; Definition of what loans are considered predatory; Requirement for lenders to document a borrower's ability...

  • Protection at the Price of Higher Rates. Snytsheuvel, Raymond J. // Mortgage Banking;Sep2005, Vol. 65 Issue 12, p48 

    Reports on the impact of the proposal of new Home Ownership and Equity Protection Act on nonprime borrowers in the U.S. Factors affecting the increase of interest rates; Assessment of the de facto prohibition on the use of prepayment charges; Lack of consistency among predatory lending laws.

  • Illinois Governor Signs Database Bill. Bergquist, Erick // American Banker;7/22/2005, Vol. 170 Issue 140, p20 

    Announces that Governor Rod R. Blagojevich of Illinois signed a bill into law that will create a state-run predatory lending database. Description of the law, which will go into effect on January 1, 2006; Debate over the practicality of the database.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics