Congress
HIGHLIGHT
In 1994, the average home cost about $150,000, and almost no one had ever heard of a subprime loan. That was also the year when Congress last took any major action against predatory mortgage lending. Today federal lawmakers are playing catch-up as they consider key legislation to stop foreclosures and strengthen protections against abusive lending practices.
- Foreclosures Continue: What Needs to Change in the Government's Response?
February 25, 2010Testimony on the government's response to continuing foreclosures by Julia Gordon before the U.S. House of Representatives Committee on Oversight and Government Reform Subcommittee on Domestic Policy.
- To Prevent Foreclosures, Eliminate Penalty Tax On Mortgage Relief
February 1, 2010When homeowners are at risk of losing their home to foreclosure, the last thing they need is an extra tax bill. Congress needs to fix the 2007 Mortgage Forgiveness Debt Relief Act so that homeowners receive relief as intended.
- CRL supports a strong, non-preemptive Consumer Financial Protection Agency
October 19, 2009CRL letter to Members of House Financial Services Committee outlining support and opposition to various CFPA amendments on states' rights, credit-related insurance, and carve outs for credit unions and auto dealers.
- At A Glance: Top Policies for Addressing the Foreclosure Crisis
August 19, 2009Solutions exist. Here's a quick reference to CRL's top four policies for stopping the foreclosure epidemic.
- Current Trends in Foreclosure and What More Can Be Done To Prevent Them
July 28, 2009In a hearing on "Current Trends in Foreclosure and What More Can Be Done to Prevent Them," CRL's Keith Ernst urged Congress to take several actions to address the flood of foreclosures and fix the broken mortgage market: Create the Consumer Financial Protection Agency; pass or encourage sensible lending rules in the future; ensure that current prevention efforts are as effective as possible; and lift the ban that now prohibits home loan modifications through the courts.
- Financial Reform that Protects Consumers
June 25, 2009For years, federal bank regulators looked the other way; now Congress has a chance to reform our system of checks and balances, make banks accountable, and protect consumers from abusive financial products that caused our current economic crisis
- Regulatory Restructuring: Enhancing Consumer Financial Products Regulation
June 24, 2009Kathleen Keest, Senior Policy Counsel at CRL, testified before the House Financial Services Committee on CRL's support for a strong, state-of-the-art consumer protection agency for financial products -- provided that the agency is independent of the companies it regulates, and fully transparent and accountable to the public.
- H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009
April 23, 2009Congress has an opportunity to prevent another mortgage fiasco by passing stronger protections on home lending.
- Solutions to the Foreclosure Crisis
March 25, 2009Highlights of legislation CRL endorsed which focuses on ways to fix the foreclosure crisis
- Mortgage Lending Reform: A Comprehensive Review of the American Mortgage System
March 11, 2009Comprehensive testimony detailing the current state of the mortgage system, the reasons it is broken, and the steps and tools needed to stem the massive growth of foreclosures.
