X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

<p>DENVER – A bill to curb predatory mortgage lending in Colorado has easily cleared its first hurdle, winning a 6-1 vote by the Senate Business Labor and Finance Committee. The measure, backed by a broad coalition of consumer groups and joined by the Colorado Credit Union League, would set new thresholds defining abuse practices on mortgage lending and is designed to “drive unscrupulous lenders from the state.” The Senate panel heard testimony from John Sheehy, senior vice president of the Colorado League, along with Denver area citizens who said they had been victimized by abusive practices. The measure, drafted after bills in other states by the American Association of Retired Persons, is expected to reach the full Senate in about two weeks, and the prospects are good for passage, said industry sources.</p>

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.