Efforts to Achieve National Predatory Lending Legislation Still on Track Despite Ney’s Decision to Leave Congress
August 10, 2006
The departure of Rep. Bob Ney, R-OH, will not cool the mortgage industry’s fervor for a national anti-predatory lending standard – at least from the point of view of major participants in the legislative process. Rep. Brad Miller, D-NC, co-sponsor of an anti-predatory lending bill modeled after his home state’s statute, said Ney’s announcement this week not to seek reelection amid a federal corruption probe will not affect efforts to achieve a comprehensive bill on subprime and predatory lending...