Philadelphia Council Reconsiders Anti-Predatory Lending Bill in Wake of Solicitor’s Opinion that Measure May Raise Problems
March 12, 2001
Anti-predatory lending legislation pending before the Philadelphia city council has been placed on hold for further review due to preemption problems raised by its provisions. Both federal and state laws are likely to preempt the city of Philadelphia from regulating many of the loans the municipal bill seeks to prohibit, according to City Solicitor Kenneth Trujillo.