Cardin Calls On AG Holder To Aggressively Combat Predatory Lending Practices

Statement

Cardin Calls On AG Holder To Aggressively Combat Predatory Lending Practices

The Senate Judiciary Committee participated today in the first oversight hearing with Attorney General Eric Holder. During the hearing, I called upon the Department of Justice (DOJ) to investigate allegations of predatory lending across the country.

Predatory lending has had a devastating effect on our national economy, but it seems to be no coincidence that it has had a disproportionate impact on minority communities like Baltimore and Prince George's County. I urge Attorney General Holder to be more aggressive in ensuring that our lending institutions are not violating the Fair Housing Act and unlawfully targeting minority and urban communities for high--interest rate loans. DOJ needs to reverse the inaction of the previous administration and do more to make certain that these destructive lending practices are no longer tolerated in our country.

Source