[Promoted from the diaries, with minor edits, by DavidNYC. I think our side got caught a bit flat-footed on the bankruptcy bill. Let's make sure that doesn't happen again.]
Following on the heels of Bankruptcy Deform, the House is gearing up to consider a Federal law to address predatory lending. Rather than address the issue head on, as a proposed Democratic version would do, the powers that be are coalescing around a "bipartisan" bill drawn up by Rep. Robert Ney, Republican of Ohio, and Rep. Paul Kanjorski, Democrat of Pennsylvania (Scranton area).
The problem with the bill is that it superficially addresses some of the key predatory lending issues, but then leaves enough gaping loopholes behind the pretty facade for the predators to drive a truck through. In addition, the bill would pre-empt current state predatory lending laws, some of which have provided a much higher standard at the state level. Because this has been touted as a "bipartisan" effort, several Democrats have unfortunately agreed to cosponsor the bill.
We must let these erring Democrats know that this is a mistake, and that they instad should be co-sponsoring the Democratic version developed by Reps Miller, Watt and Frank instead.
Here is the list of those we need to contact, in addition to Kanjorski:
Rep. Harold Ford - D-Memphis, TN
Rep William Lacy Clay - D-St. Louis, MO
Rep. Gregory Meeks - D-Queens, NY
Rep. Darlene Hooley - D- Salem, OR
Rep. Bennie Thompson - D-Greenville, MS
Rep Joe Crowley - D-Bronx, Queens, NY
Rep David Scott - D-Atlanta, GA
Rep. Brad Sherman - D-San Fernando Valley, CA
If you live in one of these districts, please get in touch with your Rep. More information (including contact info and a sample letter) is below the fold.
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