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Home » Store » News » DC City Council Suspends Predatory Lending Law

DC City Council Suspends Predatory Lending Law

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Threats of lost business appear to be having an impact on state and local lawmakers seeking new restrictions on abusive mortgage lending. In Washington, DC, for instance, the city council last week voted overwhelmingly to suspend, for four months, a law that makes it considerably harder for lenders to collect on bad loans through foreclosure. A number of lenders, including Chase Mortgage and other banks, said that the costs of complying with the DC ordinance
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