Jeffords’ Defection from GOP Leads to Realignment in Senate, Previously Ignored Predatory Lending Issue to Front,
June 4, 2001
Center Industry efforts to tie predatory lending to mortgage reform appear to be back in limbo as Democrats, aided by the defection of a three-term Republican, regained control of the Senate. The decision two weeks ago by Vermont Sen. Jim Jeffords to quit the Republican Party and become an independent lawmaker voting with Democrats clearly has upset the core legislative strategy the mortgage industry has been following since last year, industry observers say.