(Reuters) - WASHINGTON, July 17 - Several Democrats on
Wednesday will introduce a bill aimed at protecting consumers
by limiting finance charges for certain home mortgages, banning
prepayment penalties and verifying a borrower's ability to
repay a loan.
Rep. Keith Ellison of Minnesota, a member of the House
Financial Services Committee, said the legislation takes a
tough stand against predatory lending by state-regulated
mortgage brokers and is modeled after a new Minnesota law.
Read more at Reuters.com Government Filings News
Wednesday will introduce a bill aimed at protecting consumers
by limiting finance charges for certain home mortgages, banning
prepayment penalties and verifying a borrower's ability to
repay a loan.
Rep. Keith Ellison of Minnesota, a member of the House
Financial Services Committee, said the legislation takes a
tough stand against predatory lending by state-regulated
mortgage brokers and is modeled after a new Minnesota law.
Read more at Reuters.com Government Filings News
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