The fresh new Prohibit Predatory Financing Work (H. Mel Watt (NC) having Representative. Brad Miller (NC) and you may Agent. Barney Frank (MA) Cosponsored because of the 65 people in Congress and additionally CBC players Agent. Sanford Bishop (GA), Rep. Corrine Brownish (FL), Agent. Grams.K. Butterfield (NC), Associate. Julia Carson (IN), Del. Donna Christensen (VI), Rep. Wm. Lacy Clay (MO), Associate. James Clyburn (SC), Representative. John Conyers (MI), Associate. Elijah Cummings (MD), Representative. Artur Davis (AL), Associate. Chaka Fattah (PA), Representative. Harold Ford Jr. (TN), Representative. Al Green (TX), Agent. Jesse Jackson Jr. (IL), Associate. Sheila Jackson-Lee (TX), Agent. William Jefferson (LA), Associate. Eddie Bernice Johnson (TX), Associate. Stephanie Tubbs Jones (OH), Representative. Carolyn Kilpatrick (MI), Agent. Barbara Lee (CA), Representative. John Lewis (GA), Agent. Cynthia McKinney (GA), Agent. Kendrick Meek (FL), Representative. Gregory Meeks (NY), Representative. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Rep. Biggest Owens (NY), Associate. Donald Payne (NJ), Agent. Charles Rangel (NY), Rep. Bobby Hurry (IL), Associate. David Scott (GA), Associate. Bobby Scott (VA), Representative. Bennie Thompson (MS), Representative. Edolphus Locations (NY), Rep. Maxine Waters (CA), Agent. Diane Watson (CA), Rep. Mel Watt (NC), and Agent. Al Wynn (MD)

A costs in order to ban anyone, in connection with a beneficial subprime federally associated home mortgage, out of providing home loan lending provider otherwise mortgage broker functions until such as body’s certified from the Assistant off Houses and you will Metropolitan Invention and it has started sufficiently given it regard to subprime lending

A statement in order to enforce constraints and you may limits into the higher-prices mortgages, to help you change the brand new permissible charges and you will fees to the certain types of finance, so you can exclude unfair or deceptive financing techniques, and also to allow for public knowledge and you will counseling regarding predatory lenders. Called the fresh new Miller-Watt-Honest costs.

Supporting home ownership and you will in control financing (H.Scam.Res. 127) 110th Congress Introduced by Rep. Elijah Cummings (MD) Cosponsored by the Associate. Keith Ellison (MN)

A good concurrent solution stating the sense away from Congress one to guidelines will be getting enacted one to handles consumers who had been sufferers from dishonest mortgage brokers and loan providers.

Supporting the purpose of increased and you can sustainable homeownership throughout the Joined States (H.Scam.Res. 392) 110th Congress Delivered from the Rep. Alcee Hastings (FL) Cosponsored by the 8 other people cash advance Georgetown Georgetown CT in Congress and additionally CBC professionals Associate. Sanford Bishop (CA), Agent. Artur Davis (AL), Associate. Al Environmentally friendly (TX), Associate. Carolyn Kilpatrick (MI), Associate. Kendrick Meek (FL), Rep. Stephanie Tubbs Jones (OH), and Representative. Barbara Lee (CA)

A good concurrent solution giving support to the aim of enhanced and you may green homeownership in the usa and you may acknowledging the importance of homeownership apps, fair financing guidelines, and you can reasonable property rules inside achieving one mission.

Fudge intricate a tight certification program getting mortgage brokers and you can representatives whom matter subprime financing plus a sleek techniques to have processing complaints facing shady agents and you will representatives

Accepting the fresh new disparities that will be of the predatory lending during the fraction teams (H.Fraud.Res. 391) 110th Congress Brought because of the Yvette Clarke (NY) Cosponsored because of the Rep. Edolphus Metropolises (NY)

A great concurrent solution acknowledging the newest disparities which can be from the predatory credit abuses when you look at the fraction teams and you may saying the feeling of your own Congress one given that the brand new violations continue to arise, such laws and regulations is ensure that every one of these guilty of symbolizing and you may protecting household have the authority to act to deal with these types of the brand new difficulties.

Financial Change and Anti-Predatory Lending Work (H.Roentgen. 1728) 111th Congress Delivered from the Associate. Mel Watt (NC) that have Associate. Brad Miller (NC) and Agent. Barney Frank (MA) Cosponsored from the five almost every other members of Congress

An expenses in order to reform user financial methods and provide responsibility to own instance techniques and to give specific minimal requirements to have user mortgages.

Representatives Maxine Seas (CA-43) and you can pioned the challenge of reasonable lending by releasing laws so you can offer in control lending strategies. Within the 2001, Agent. Waters, a frontrunner on monetary products when you look at the Congress and you will blunt critic from predatory credit means, put the brand new Securing Our Groups out-of Predatory Lending Work. The bill is actually intended for protecting consumers away from shedding house to help you predatory lending by the, among other things, prohibiting mortgage brokers out-of making not true, misleading, or mistaken statements otherwise direction people into the greater risk finance than they might if not qualify for. In her own 2009 Predatory Mortgage Lending Means Cures Act, CBC sofa Representative.

A bill to approve the latest Secretary off Construction and you may Urban Creativity and make features so you’re able to Claims, equipment off local government, and you will nonprofit communities to possess counseling and you may knowledge apps to your avoidance regarding predatory credit in order to establish a toll-free contact number to own complaints from predatory financing.