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N.Y. State Attorney General Cuomo sets sights on predatory lending
Feb 25, 2009 10:22 AM

Home Loan Predatory lending If you've been a victim of predatory lending or are concerned about how these abusive practices could impact you, you'll want to read a recent post on DefendYourDollars.org, a site from Consumers Union, the nonprofit publisher of Consumer Reports and the Home & Garden blog.

In "Will Treasury Secretary Geithner Side With Consumers or With Banks in Major Case Before SCOTUS?"—that's Supreme Court of the United States for those of us outside the Beltway—our advocates write:

"Today, New York Attorney General Cuomo is due to file his opening brief in a case before the United States Supreme Court which presents a major banking and civil-rights issue, and an immediate opportunity for relief to consumers. Treasury Secretary [Timothy] Geithner and Attorney General [Eric] Holder must decide whether they will reverse the Bush administration's long-standing position that states cannot enforce state laws against predatory lending practices by banks—the kinds of practices that led directly to the current economic crisis. So Consumers Union recently wrote Secretary Geithner and urged him to start standing on the side of consumers and consumer protection, not the banks and predatory lending." Read the rest of the story here and look for updates from DefendYourDollars.org on this blog.

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