Proposed Responsible Lending legislation includes mandatory mortgage broker licensing.
A bill introduced February 13 would, for the first time, require all mortgage brokers to be licensed. Reps. Bob Ney, R-Ohio, and Ken Lucas, D-Ky., introduced the Ney-Lucas Responsible Lending Act of 2003, which would create a Consumer Mortgage Protection Board within the Department of Housing and Urban Development....

An institutional analysis of consumer law.
ABSTRACT This Article explores the revival of interest in consumer protection in the United States, and the impact of this revival on the consumer movement. The Author examines the influence that political organizations and institutions have upon the final shape and content of consumer law in the...

Shareholders pounce on predators.
Presbyterian shareholder activist William Somplatsky-Jarman testified before the congressional subcommittee on financial institutions and consumer credit in November that shareholders in financial companies must oppose predatory lending practices and insist that America's hanks make capital available to underprivileged communities. "Shareholders play an essential role in preventing abusive lending practices,"...

Rising inflation Asiaa[euro][TM]s biggest uncertainty a[euro]" S&Pa[euro][TM]s.
SINGAPORE (Dow Jones)a"The biggest immediate uncertainty for Asian economies is rising inflation and the monetary policy response to it, said Ping Chew, a Standard & Pooras credit analyst. Other challenges are the potential slowdown in US consumption and bird flu, he said in a teleconference Wednesday to...

Nearly One in Four Consumers Uncomfortable With Their Debt; New data suggest fewer Americans intend to apply for credit in the months ahead.
Byline: Dennis Jacobe Synopsis: A new Experian/Gallup Personal Credit Index (PCI) poll shows consumers becoming more cautious about borrowing, with fewer intending to apply for credit in the months ahead. Add the rising cost of gas to the equation, and former Federal Reserve Chairman Alan Greenspan's recent...

Debt pushers; Credit card purveyors need to clean up their act.
COLUMN: IN OUR OPINION It started out as a great idea: Put fast credit at consumers' fingertips in exchange for reasonable payback terms. People want the service; providers profit. But, insidiously, some lenders ride roughshod over the "reasonable" part, luring unwary consumers with no-questions-asked credit...

Counting the cost: a crusade against consumer debt.
HEATHER FROM OREGON sounds like a born-again woman, financially speaking. "I finally got EVERYTHING paid off this spring.... No more credit cards, no more student loan! I feel so good, so adult, and so proud of myself.'" She thanks her deliverer, radio personality and anticredit crusader Dave Ramsey, for...

The structure and growth of the credit union industry in the United States: meeting challenges in the market.
I Introduction THE DEREGULATION of the financial services industry in the United States, which began to be implemented in 1977, is now more than fifteen years old. Depository, investment, insurance, brokerage and credit type financial intermediaries have evolved into what is called the financial services industry. A complex...

First Nations remain the bedrock of business.
Peace Hills Trust (PHT) celebrated its 25th anniversary with friends on Oct. 27--more than 200 of them. The silver benchmark provided an occasion for President Warren Hannay to crow about the company's accomplishments. "PHT has proven to Canada, and in particular to financial institutions, that you can...

In pursuit of safety and soundness: an analysis of the OCC's anti-predatory lending standard.
To borrow a concept from the animal kingdom ... a classic predator traps the unwary and preys on the weak. Put in the lending context, a predatory lender ensnares ... vulnerable customers, offering loan products designed to prey on their weakness, bleed them financially and ... strip them of...