ALBANY, N.Y. – The New York State Credit Union League recently joined the League of Women Voters/NYS and New Yorkers for Responsible Lending at a news conference at the Legislative Office Building calling for strong homeowner protections from predatory mortgage loans. New Yorkers for Responsible Lending is made up of 94 organizations such as AARP, ACORN, NYPIRG and many senior, consumer, community, and legal services organizations from across the state supporting comprehensive legislation to eradicate predatory home mortgage lending practices. The groups also called for the state legislature to pass anti-predatory lending legislation that includes "assignee liability" which ensures that homeowners with predatory loans can raise defenses to foreclosure in the event the loan is held, for example, by a Wall Street investment trust.
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