WASHINGTON (AP) - The Center for Responsible Lending, a consumer group
pressing for tighter controls on lending practices, spent $180,000 lobbying in
the first quarter.
The Durham, N.C.-based advocacy group has been an active participant in the
debate about tighter regulations for mortgage lenders. It lobbied on numerous
bills affecting home loans and credit cards, according to a disclosure form
filed April 22 with the Senate's public records office.
Besides lawmakers, the advocacy group lobbied agencies including Federal
Reserve, the Federal Deposit Insurance Corp., the National Credit Union
Administration, the Office of Thrift Supervision and the departments of Housing
and Urban Development and Treasury.
The group spent $640,000 lobbying the government last year, according to
disclosure forms.
In particular, the group has pressed for legislation backed by House and
Senate Democrats that would allow bankruptcy judges to alter the terms of a
mortgage in court. That piece legislation is strongly opposed by the mortgage
industry, which says it would raise costs for borrowers.
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