American Land Title Association
Home  >  News Room
News Room


SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software


Industry News

Lenders counterpoint bankruptcy reform

September 9, 2002

Group says pending legislation could lead to more cases of predatory lending


Inman News Features

A group of 17 U.S. lenders and credit card providers yesterday sent a letter to Congressional leaders expressing opposition to pending bankruptcy reform legislation.

The letter points out that the pending legislation would create a lot more disadvantages to filing bankruptcy, thereby leaving strapped homeowners more vulnerable to predatory lending in the form of inappropriate home refinance loans, according to the Hastings Group.

The opponents of the Bankruptcy Abuse and Consumer Protection Act, H.R. 333, believe the legislation will disproportionately harm vulnerable debtors while rewarding unscrupulous credit card companies and steering homeowners towards predatory refinance loans, according to the Hastings Group.

Copyright: Inman News Service



Print Friendly


How To Find Us:
American Land Title Association
1828 L Street, NW, Suite 705
Washington, DC 20036-5104
P. 202.296.3671 F. 202.223.5843
www.alta.org
service@alta.org
Copyright © 2004-2014 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment