For Immediate Release
Thursday, March 15, 2001
For further
information contact NCRC
(202) 628-8866
Rep. LaFalce (NY) held a press conference to introduce eleven
consumer protection bills on March 15. The congressman called these bills
the "Financial Services Consumer ‘Bill of Rights’
Legislation."
These bills include: an anti-predatory lending bill;
a bill to prevent discrimination and steering of minorities, elderly, and
women to high-cost loans; a bill to improve HMDA data, so that it includes
interest rates and fees; a bill to prohibit federally insured depository
institutions from participating in payday lending; an amendment to the
current consumer automobile lease advertising act, which will provide
clearer standards for disclosing leasing terms and costs; as well as bills
to clamp down on credit card fraud.
Below are John Taylor’s
(CEO-NCRC) comments delivered at the press conference:
Click here to read John
Taylor's comments.
Other members of Congress present at LaFalce’s press conference
included: Carolyn Maloney (NY); Barbara Lee (CA); Stephanie Tubbs Jones
(OH); and Janice Schakowsky (IL).
Other consumer groups
participating in the press conference were: the Consumers Union; Center
for Community Change, US PIRG, and the Consumer Federation of
America.
Earlier in the day, John Taylor testified before the US
Civil Rights Commission regarding subprime lending and small business
lending in the District of Columbia.
