FTC testifies on enforcement and education initiatives to combat predatory lending practices; Asks Congress to consider legislative expansions to enhance consumer protection.

0 Comments | M2 Presswire, May, 2000

M2 PRESSWIRE-25 May 2000-US FTC: FTC testifies on enforcement and education initiatives to combat predatory lending practices; Asks Congress to consider legislative expansions to enhance consumer protection (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:24052000 Predatory lending practices in the subprime market, particularly those affecting home equity borrowers, were the subject of testimony delivered today by David Medine, Associate Director for Financial Practices of the Federal Trade Commission's Bureau of Consumer Protection.

Speaking on behalf of the Commission before the House Committee on Banking and Financial Services, Medine outlined a number of ways the Commission continues to address predatory lending practices, including law enforcement and...