Tuesday, July 10, 2007

States Push Ahead With Subprime-Mortgage Laws as Congress Lags Behind

(Bloomberg) -- State lawmakers, faced with a record
number of constituents who may lose their homes, are pressing to
pass their own laws to halt mortgage-lending abuses, saying they
can't afford to rely on the U.S. Congress to act.

Legislators in some 30 states have introduced about 85
bills to protect mortgage borrowers from deceptive-lending
practices, foreclosure or fraud, according to a Bloomberg
analysis of data from the National Conference of State
Legislatures.


Read more at Bloomberg Bonds News

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