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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- Brief: Owners, Lenders Flourish Under State Anti-Predatory Lending Laws
March 1, 2006
“The Best Value in the Subprime Market: State Predatory Lending Reforms” shows that state laws are working well for credit-strapped families in the subprime market and for responsible lenders.
- Predatory Mortgages in Maine: Recent Trends and the Persistence of Abusive Lending Practices in the Subprime Mortgage Market
February 13, 2006
- Rule-Making to Permit Preemption of State Laws with Respect to the Interstate Activities of State Banks
May 24, 2005
Testimony states that authorizing state banks to disregard banking laws of sister-states is a problem of constitutional magnitude that would deprive state assemblies of an essential regulatory role