While most of our attention will be focused on the filibuster action in the Senate this week- as it should be- there will be a joint hearing in the
Financial Institutions and Consumer Credit and the
Housing and Community Development subcommittees of the House Financial Services Committee on Tuesday. The hearing is titled "Legislative Solutions to Abusive Lending Practices." and will happen at 10am in room 2128 of the Rayburn House Office Building.
Those of you who have been following this will know that there have been several diaries on the issue of predatory mortgage lending and that we all want to make sure that we are not caught as flat-footed as we were when the Bankruptcy Deform bills whipped through Congress. I laid out some of the problems with Congressman Ney's Responsible Lending Act (HR 1295) in this diary and Congressman Brad Miller has since weighed in with a diary about his progressive "Prohibit Predatory Lending Act (HR 1182). Some Democrats are being dense by supporting the weak Ney bill while not supporting the strong Miller bill. It's time to hit them upside the head again. Make the jump for details.
This is a call for anyone in the DC area with the time and ability to attend the hearing to do so and report back to the Kossacks.
Ten Democrats have signed on as co-sponsors of the Ney bill. For those of you who didn't take the time to review the fundamental problem with the Ney bill is that while it provides some additional protections it pre-empts stronger state laws.
Rep. Paul Kanjorski - D-Scranton, PA
Rep. Harold Ford - D-Memphis, TN
Rep. Darlene Hooley - D- Salem, OR
Rep David Scott - D-Atlanta, GA
Rep. Brad Sherman - D-San Fernando Valley, CA
Rep. Steve Israel - D-Long Island, NY
Rep William Lacy Clay - D-St. Louis, MO
Rep. Gregory Meeks - D-Queens, NY
Rep. Bennie Thompson - D-Greenville, MS
Rep Joe Crowley - D-Bronx, Queens, NY
Now the last four of these have partially remedied their mistake by also signing on as co-sponsors of the Miller bill, but the top six have not. In order to let them know that we're watching them, and that we don't want any of their Bankrutpcy Bill foolishness let's make sure that all of these folks, but especially
Kanjorski
Ford
Hooley
Scott
Sherman and
Israel
should hear from us that it is not OK for them to be supporting a bill that prohibits state consumer protection laws that protect people from predatory lending, when they're giving us a Federal bill that doesn't protect us nearly as much as the best state bills.
Paul Kanjorski
E-mail
P: 202) 225-6511
F: (202) 225-0764
Harold Ford
E-mail: rep.harold.ford.jr@mail.house.gov
P: (202) 225-3265
F: (202) 225-5663
William Lacy Clay
E-mail
P: (202) 225-2406
F: (202) 225-1725
Gregory Meeks
E-mail: congmeeks@mail.house.gov
P: (202) 225-3461
F: (202) 226-4169
Darlene Hooley
E-mail
P: (202) 225-5711
F: (202) 225-5699
Bennie Thompson
E-mail
P: (202) 225-5876
F: (202) 225-5898
David Scott
E-mail
P: (202) 225 - 2939
F: (202) 225 - 4626
Joe Crowley
E-mail
P: (202) 225-3965
F: (202) 225-1909
Brad Sherman
E-mail
P: (202) 225-5911
F:(202) 225-5879
This is still just a hearing. The committee markup and votes have not been scheduled, but if we dog them every step of the way we will have more effect than if we just show up at vote time. Send an email today - if you're in their district, or put it on your calendar to call on Monday or Tuesday.
And if anyone could actually attend the hearing and report back, we would all be grateful.