WASHINGTON, D.C. – (RealEstateRama) — This evening, several news outlets are reporting that Congressional Democrats have gained control of the U.S. House of Representatives. Media wires are also showing that Republicans have kept their majority in the U.S. Senate.
Center for Responsible Lending (CRL) Executive Vice President Debbie Goldstein released the following statement:
We look forward to working with this new Congress on issues that are of the utmost importance, including addressing the student loan debt crisis, ensuring a sustainable and inclusive housing finance system that serves all borrowers, stopping payday loan debt traps, and combating unlawful lending discrimination.
CRL also encourages the newly-elected Congress to conduct rigorous oversight over the Administration and hold agency regulators accountable when they fail to police financial misconduct. The last Great Recession demonstrated the need for an independent consumer watchdog to protect all Americans, especially working- and middle-class families and consumers of color, from abusive financial practices and lending discrimination. We hope Congress fulfills its responsibility to hold financial institutions transparent and accountable to the public over the next two years and beyond—the country can’t afford to go through another financial crisis.
Source: Center for Responsible Lending