Four Objectives for Predatory Lending Legislation
Sign-on letter to Reps. Oxley and Frank, Feb 2005
During recent years, responsible mortgage lenders and consumer advocates have recognized the urgent need to curb abusive lending practices that harm homebuyers and homeowners. We support legislation that supplements existing law by promoting four basic objectives:
- Elimination of incentives for lenders to make predatory loans;
- A fair, competitive market that responsibly provides credit to consumers;
- Access to justice for families caught in abusive loans; and
- The preservation of essential federal and state consumer safeguards.
Download complete letter as PDF
List of Signatories
as of February 12, 2006
AARP
AFL-CIO
Leadership Conference on Civil Rights
National Association for the Advancement of Colored People
National Council of La Raza
National Urban League
Rainbow/Push
Association of Community Organizations for Reform Now
Alternatives Federal Credit Union
Alternatives Community Ventures
Bronx Council on the Arts
California Reinvestment Coalition.
Coastal Enterprises Inc., Maine
Community Development Ventures Capital Association
Coalition of Community Development Financial Institutions
Center for Responsible Lending
Center for Women Policy Studies
Center for Community Change
Consumer Action
Consumer Federation of America
Consumers Union
Demos: A Network for Ideas and Action
Federation of Appalachian Housing Enterprises
First Delta Federal Credit Union
Hispanic Organizations Leadership Alliance (HOLA)
Housing Assistance Council.
Inglewood Neighborhood Housing Services.
Latino Community Credit Union, North Carolina
National Association of Consumer Advocates
National Rural Housing Coalition
National American Indian Housing Council
National Federation of Community Development Credit Unions
National NeighborWorks Association
National Neighborhood Coalition
National Coalition for Asian Pacific American Community Development
NCB Development Corporation
National Community Reinvestment Coalition
National Community Capital Association
National Consumer Law Center
National Fair Housing Alliance
National People's Action
Opportunities Credit Union, Vermont
O.U.R. Federal Credit Union, Oregon
National Training and Information Center
Poverty and Race Research Action Council
Responsible Wealth
Triangle Urban League
United for a Fair Economy
U.S. Public Interest Research Group
