<p>TALLAHASSEE, Fla. – State Sen. Kendrick Meek (D-Miami) and state Rep. Dorothy Bendross-Mindingall (D-Miami) introduced the "Florida Home Loan Protection Act," a measure they described as "the first step in saying to Florida and the banking industry that we will not allow the boundless abuse of those who are unable to protect themselves." Speaking at a press conference, Meek said, "Abusive mortgage lending has become an increasing problem in Florida. Abusive lending threatens the viability of communities and causes decreases in home ownership. It is my hope that the `Florida Home Loan Protection Act' will protect Floridians from these predatory lending practices." Also attending the press conference were representatives from AARP and the Association of Community Organizations for Reform Now (ACORN). Both groups are supporters of the measure.</p>

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.