ATLANTA – Georgia has joined the ranks of the states that have enacted laws to protect consumers from abusive mortgage lending. The "Georgia Fair Lending Act" that was signed into law by Gov. Roy Barnes on April 22, is now in effect. Among the provisions of the law, it prohibits abusive home loan practices, including `flipping' of a home loan; creates specific consumer protections for covered home loans and high-cost home loans; and provides penalties for non-compliance with the law. H.B. 1361 was sponsored by state Reps. Charlie Smith Jr. (D-175th), Henrietta Turnquest (D-73rd) and Winfred Dukes (D-161st).
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