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Just got this from Public Citizen.  Tennessee Sen. Bob Corker has been recruited to attach get-out-of-jail-free language for the banks to a non-controversial piece of legislation, the Responsible Homeowner Refinancing Act (S. 3522), a bill which will make it easier for consumers to refinance at current low-interest rates.

The Corker amendment, if allowed to pass, would grant the banks legal immunity, even when they push predatory loans they know that consumers won’t be able to pay back.

The Big Banks want to defang a provision of the Dodd-Frank Wall Street reform law that would prevent them from pushing unaffordable home loans on unsuspecting families. The banks are demanding an absolute get out of jail free card — total immunity — even if they make unaffordable loans.  

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