States

HIGHLIGHT

During the subprime frenzy, many states moved ahead to pass stronger lending protections as the federal government dragged its feet. The states have led the way in closing loopholes in federal laws and weeding out abusive loan terms, such as excessive fees and prepayment penalties. The Center for Responsible Lending continues to work with partners and allies in many states to stop foreclosures and help ensure more responsible lending in the future.

 

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  • Coalition Urges Strong Servicing Settlement that Holds Banks Accountable
    August 24, 2011

    As state Attorneys General wrap up their robo-signing investigation, CRL joins Americans for Financial Reform in urging AGs to produce a strong settlement for homeowners that prevents unnecessary foreclosures and keeps the door open for more legal remedies in the future.

  • Foreclosure as a Last Resort
    October 21, 2010

    States are in a strong position to stabilize the housing market and prevent unnecessary foreclosures, and the best tool available is mandatory loss mitigation.

  • Foreclosure Fraud? Robo-Signing Reveals Rush to Foreclosure
    October 8, 2010

    A lawsuit highlights possible foreclosure fraud, as loan servicing employees admit they don’t actually review foreclosure documents; instead they do "robo-signing.

  • Allowing National Banks to Ignore State Lending Laws Encouraged Risky Lending
    October 16, 2009

    UNC's Center for Community Capitalism finds that national banks increased subprime lending when they were allowed to ignore state laws (i.e., "preempt" state laws), and states with stronger lending laws have had fewer foreclosures.

  • State Attorneys General Call For The Creation of CFPA
    August 17, 2009

    A geographically broad and bipartisan letter sent August 17 letter to key committee chairs in the U.S. House and U.S. Senate by 24 State Attorneys General, signals a strong state of support for the proposed Consumer Finance Protection Agency (CFPA).

Items 1 - 5 of 15  123Next