Pennsylvania Legislature Passes Bill to Study Foreclosure Rate

HARRISBURG, Pa. – The Pennsylvania State House passed a resolution urging the state banking department to study residential lending practices and foreclosure trends to uncover suspected lending abuses and predatory lending practices. Pennsylvania Association of Community Organizations for Reform Now (ACORN) said the action marks the beginning of a statewide effort to protect borrowers from lending abuses. Banking Commissioner William Shenck has committed to having the study completed by Thanksgiving, said ACORN.