Problems in Community Development Banking, Mortgage Lending Discrimination, Reverse Redlining, and Home Equity Lending: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Third Congress, First Session, on February 3, 1993 ... February 17, 1993 ... February 24, 1993 ....

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Page 459 - ... applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.
Page 540 - the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration.
Page 707 - Such hearing shall be fixed for a date not earlier than thirty days nor later than sixty days after the date of service of such notice, unless an earlier or a later date is set by the...
Page 10 - I appreciate the opportunity you have given me to express my views on community development banking.
Page 459 - It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction...
Page 435 - Housing Rehabilitation Loan Program The City of Portland annually receives a Community Development Block Grant under Title I of the Housing and Community Development Act of 1974 . As part of their Community Development Program, the City assists low and moderate income property owners in the City of Portland. Fleet Bank's participation is to provide one-half of the amount of a housing rehabilitation loan, matched by a loan of a similar amount by the...
Page 734 - In the process of verifying an application, the lender could encourage the applicant to withdraw rather than be rejected. However, applicants might withdraw for a host of other reasons. In particular, the property might fail an inspection report or the buyer might simply get cold feet. Withdrawals accounted for roughly 8 percent of both black/Hispanic and white applications. An examination of the pattern of withdrawals in the sample revealed, at most, a weak link to race or creditworthiness. Since...
Page 311 - Rahall, and members of the Committee, thank you for your invitation to testify today. On...
Page 313 - ... creditor contracted for or received separate charges for insurance with respect to consumer credit sales or consumer loans with the effect of making the sales or loans, considered as a whole, unconscionable; and (e) the fact that the respondent has knowingly taken advantage of the inability of the debtor reasonably to protect his interests by reason of physical or mental infirmities, ignorance, illiteracy or inability to understand the language of the agreement, or similar factors. (4) In an...
Page 392 - The caveat emptor side of the law, like the caveat emptor side of business, seemed to me repellent; it did not make for social fair dealing. The let the buyer beware' maxim, when translated into actual practice, whether in law or business, tends to translate itself further into the seller making his profit at the expense of the buyer, instead of by a bargain which shall be to the profit of both. It did not seem to me that the law was framed to discourage as it should sharp practice, and all other...