S&P Excludes Georgia B&C Loans From Securitized Pools The other shoe appears to be dropping for lenders doing business in Georgia: rating agency Standard & Poor’s has announced that it won’t allow any loans covered by the state’s predatory lending law in transaction it rates. S&P said the policy change, slated to take effect Feb. 1, is the result of concerns about liability under the Georgia Fair Lending Act. Enacted last year, the law places