Rep. Robert Tillman
said New Jersey's law both protected consumers and preserved the marketplace
for subprime mortgages, where people with imperfect credit borrow and where
most predatory lenders operate: "Our well-balanced law significantly reduces
predatory lending . Arkansas, Georgia, Massachusetts, North Carolina, New
York, New Jersey, New Mexico and South Carolina are among those states
considered to have the strongest laws.

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Officials From MA, NM, NC and NJ Caution Ney-Kanjorski Bill Would
Roll Back State Protections for Consumers, Spur New Abuses

WASHINGTON, State and federal officials from four
states warned today that a bill in Congress would weaken laws against
predatory mortgage lending in 36 states, especially the 24 states with major
anti-predatory lending laws on their books. John F. Quinn (Dartmouth) and New Jersey Department of
Banking Director H.
The Ney-Kanjorski bill pending in Congress and supported by much of the
lending industry would gut the strong laws in these states."
Massachusetts Rep. John F. Iowa and Kansas are just two examples of states with prior
laws that help protect borrowers.responsiblelending. CRL is affiliated with the Center for Community Self-
Help, one of the nation's largest community development financial
institutions.

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michigan.

' Including links to sites opposed to Scientology with explanations as to why they are against it.

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Bluestone of New Mexico said: "Two
years ago, New Mexico passed a progressive Home Loan Protection Act in
response to an alarming rise in abusive mortgage lending practices and home
foreclosures.

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Miller of North Carolina and supported by consumers and
civil rights groups, would let states keep strong laws and protect their
consumers.
These laws ensure homeowners' rights are more than symbolic by providing
for meaningful damages and allowing homeowners to defend their homes against
foreclosure even after their loans have been sold to another lender.

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Citizens can also report suspected Internet
child predators via the Report Internet Abuses Against Children link, or by
calling the Child and Public Protection Unit at (734) 525-4151.
Chief Deputy Attorney General Mr. Too many homeowners were losing home equity because dishonest
lenders rolled points and fees into mortgage loans and did so repeatedly
through abusive refinances .

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"
New Jersey Department of Banking and Insurance Director H. Such practices include charging
excessive fees and points, repeatedly refinancing home loans while stealing
the homeowner's equity , steering consumers into more expensive loans and
tacking on unnecessary and expensive extras like single premium credit
insurance.

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Another bill,
sponsored by Rep.
This bill is bad public policy and would weaken the ability of the states to
protect consumers from unscrupulous lenders. The Prohibit Predatory
Lending Act of 2005 (H. This is a bad deal for consumers, who
would be the real losers here.

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Brad
Miller (NC), New Mexico Chief Deputy Attorney General Stuart M.

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That bill would gut our new effective law, install in
its place a weak federal standard and prevent us from adequately protecting
our residents from lending abuses. Other states with predatory lending
laws include: California , Colorado, Connecticut, Florida, Illinois, Kentucky,
Maine, Maryland, Nevada, Ohio, Oklahoma, Pennsylvania , Texas, Utah, Wisconsin,
and West Virginia.

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Cobb was arraigned Wednesday afternoon in Southfield 's 46th District
Court on one count each of Child Sexually Abusive Activity and Using a
Computer to Commit a Crime, both of which are 20-year felonies.m. Attorney General
Cox encourages parents to visit http://www. Bluestone,
Massachusetts Rep. Brad Miller (NC) and Mel Watt (NC) and the ranking member on the
House Financial Services Committee, Barney Frank of Massachusetts, have
introduced a bill that prohibits abusive lending practices and ensures that
everybody who can afford a home loan will get one.R.

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The officials are U."
According to the Center for Responsible Lending, 24 states have passed
anti-predatory lending laws.org) is
a national nonprofit, nonpartisan research and policy organization dedicated
to protecting homeownership and family wealth by working to eliminate abusive
financial practices.

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gov/ag for tips on safe
Internet usage for children.

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His bond was
set at $100,000 cash and he will be back in court June 27 at 8:30 a. New Mexico's new law stops these abuses, but now
Congress proposes in the Ney-Kanjorski bill to usurp our state's ability to
protect our homeowners."
Reps.

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It's time that all American consumers have the protection that North Carolina
consumers now have. It appears that our state banks and licensed lenders
have prepared for the new law and have helped create a more competitive
market."
Predatory lending encompasses a wide range of abusive practices by lenders
who take advantage of uninformed borrowers .
Since North Carolina's landmark anti-predatory lending law was enacted,
the state has seen a dramatic reduction in abusive lending.

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Michigan Attorney General Internet Predator Sting Catches Clarkston Man

"
Attorney General investigators arrested Clarkston resident Lawrence Frank
Cobb, 40 , Wednesday morning in Southfield, where he is a program manager for
MCI.

Letting Predatory Lending Back Out of Its Cage: Federal State Officials Warn That Federal Bill Would Weaken Protections in States

Miller said: "This bill protects
vulnerable consumers without cutting off credit for lower income borrowers." Said Executive Vice President Debbie Goldstein of the Center for
Responsible Lending, a nonprofit that combats predatory lenders: "Rather than
preserve and strengthen state and federal protections for homeowners, the Ney-
Kanjorski bill wipes out state anti-predatory lending laws proven effective at
preventing abusive practices, and significantly weakens some protections
available under the federal law today.

This category covers the controversies surrounding this 'religion .

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At least 12 more have statutes that provide
meaningful protections to borrowers but were not enacted as part of an anti-
predatory lending law.

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S.

ABOUT CRL
The Center for Responsible Lending (http://www.

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Cox Urges Parents' Vigilance Over Children's Summer Computer Use

LANSING, Mich., Attorney General Mike Cox
announced today the arrest of a Clarkston man for using the Internet to commit
child sexual abuse. for his
preliminary examination.
Since its restructuring , the Attorney General's Child and Public
Protection Unit has arrested 38 Internet sexual predators . Robert Tillman. Quinn warned: "The passage of the Ney-
Kanjorski bill would do irreparable damage to the protections afforded to
consumers under the newly enacted anti-predatory lending law in Massachusetts . 1182) is based on the State of North Carolina's
predatory lending statute, widely considered the model for preventing abusive
lending while preserving access to credit..

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"With the summer just starting and children spending more time at home, we
are seeing an increased level of activity among sexual predators on the
Internet," said Cox. A recent study by
the University of North Carolina at Chapel Hill found that after passage of
North Carolina legislation, "there was a reduction of loans with predatory
terms without a restriction in access to or increase in the cost of loans to
borrowers.

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.

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"I urge Michigan parents to be especially vigilant about
monitoring their children 's Internet usage and to report any suspicious
activity to my office.

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