Sponsored by
Associated Press
  •  

Consumer group spent $180,000 lobbying gov't in 1Q

By Associated Press May 9, 2008 Comments (0)

0 Recommendations

The Center for Responsible Lending, a consumer group pressing for tighter controls on lending practices, spent $180,000 lobbying in the first quarter.

The Durham, N.C.-based advocacy group has been an active participant in the debate about tighter regulations for mortgage lenders. It lobbied on numerous bills affecting home loans and credit cards, according to a disclosure form filed April 22 with the Senate's public records office.

Besides lawmakers, the advocacy group lobbied agencies including Federal Reserve, the Federal Deposit Insurance Corp., the National Credit Union Administration, the Office of Thrift Supervision and the departments of Housing and Urban Development and Treasury.

The group spent $640,000 lobbying the government last year, according to disclosure forms.

In particular, the group has pressed for legislation backed by House and Senate Democrats that would allow bankruptcy judges to alter the terms of a mortgage in court. That piece legislation is strongly opposed by the mortgage industry, which says it would raise costs for borrowers.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 641663, ~/articles/articlehandler.aspx, 7/24/2008 8:37:39 AM,

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

.

Related Tickers

Unavailable

Major Indices

S&P 5001,282.19+0.41%
DJIA11,632.38+0.26%
RSL 2K719.19+0.33%
NASD2,325.88+0.95%
Updated: 4:02:47 PM
Sponsored by:

The Motley Poll

What company will see the next Bear Stearns-style implosion?

Sponsored by: