Banking Dept. Hearings

[cmahon at natfed.org]

The New York State Banking Department has issued proposed regulations that
would curb some of the more predatory and abusive practices of sub-prime
lenders in the area of home mortgage lending. Among other important
provisions, this regulation will ensure that borrowers (of high-cost loans)
are provided with information and referrals for counseling. The department
is seeking input through a series of public hearings around the state.

They will be held at:
New York Law School (NY) - August 12
Monroe County Office Building (Rochester) - August 18
Brooklyn Central Public Library (Brooklyn) - September 1
Suffolk State Office Building (Long Island) - September 17
Buffalo and Erie County Public Library (Buffalo) - September 21


Community development practitioners in New York state interested in
supporting this proposed regulation or practitioners from other states
interested in obtaining a copy of the New York regulations should contact
Christine Landgraff at the NY banking department at 212-618-6451 or
fax:212-618-6440.




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