WASHINGTON, D.C. – Center for Responsible Lending Executive Vice President Nikitra Bailey released the following statement on the passing last night of longtime U.S. Senator Paul Sarbanes (D-Md.), who chaired the Senate Banking, Housing, and Urban Affairs Committee:
Our heartfelt condolences go out to Senator Sarbanes’s family as they mourn his passing. For decades, Senator Sarbanes was a champion for affordable, sustainable housing and for consumer protection. He brought to light predatory mortgage lending practices that proliferated in the early 2000s, including hidden costs and excessive interest rates and fees. Senator Sarbanes’s conviction that financial security must be attainable not just for the fortunate few but for everyone will live on as an inspiration.
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Press Contact: matthew.kravitz@responsiblelending.org