Prevention of Predatory Lending Through Education Act
Last action on Feb 28, 2005Referred to the Subcommittee on Housing and Community Opp...
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Summary
Prevention of Predatory Lending Through Education Act - Authorizes the Secretary of Housing and Urban Development to make grants to States, units of local government, and nonprofit organizations for counseling, referral, and education programs for the prevention of predatory lending.
Directs the Secretary to establish a toll-free telephone number for predatory lending complaints.
Establishes in the Department of Housing and Urban Development a Predatory Lending Advisory Council, which shall: (1) advise the Secretary on issues concerning predatory lending practices; and (2) conduct a study of the causes of home loan defaults and foreclosures.
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