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Volume 12 - Number 26

December 17, 2001

DC Evaluates Alternative to Anti-PL, Foreclosure Law

Washington, DC, lawmakers are considering model state legislation crafted by advocacy groups as a potential alternative to a controversial predatory lending and foreclosure ordinance. Developed by the National Consumer Law Center and the AARP, formerly the American Association of Retired Persons, the model law is making its first appearance on the frontline of the anti-predatory lending war.

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The Consumer Financial Protection Bureau is completing its first six months of operation. Based on the agency’s regulatory pronouncements and announcements to date, how do you think the agency is doing?

It’s doing a good job of balancing consumer protections with regulating the mortgage industry.
It’s too early to tell what kind of job the CFPB is doing.
It’s not needed and should be closed down.

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