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.
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- Current Trends in Foreclosure and What More Can Be Done To Prevent Them
July 28, 2009
In 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, 2009
For 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, 2009
Kathleen 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, 2009
Congress has an opportunity to prevent another mortgage fiasco by passing stronger protections on home lending.
- Solutions to the Foreclosure Crisis
March 25, 2009
Highlights 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, 2009
Comprehensive 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.
- Highlights of the New Housing Plan
February 20, 2009
Highlights of President Obama's plan to address the housing crisis
- Promoting Bank Liquidity and Lending Through Deposit Insurance, The HOPE for Homeowners Program, And Other Enhancements
February 3, 2009
Testimony re: H.R. 703, a bill to promote bank liquidity and lending through deposit insurance, the HOPE for Homeowners program, and other enhancements.
- Common-Sense Solutions for Saving Homes and Communities
January 30, 2009
CRL proposes four policy recommendations that focus on removing obstacles that prevent systematic, sustainable loan modifications
- CRL’s Summary of Credit Suisse Findings on Bankruptcy Reform
January 29, 2009
Excerpts from Credit Suisse report which discussed bankruptcy reform