Subprime Lenders, Secondary Markets Turn Skittish Over NY Predatory Lending Law
October 11, 2002
Loan buyers and securitizers active in New York got an unwelcome surprise last week when the state’s Republican governor signed a predatory lending measure that he had pledged to oppose. “The New York bill is bad news,” said one industry lobbyist of A11856, which was just signed into law by Gov. George Pataki.