Always Remember
- Consumer Protection Laws are liberally construed in favor of consumers.
- Consumer Protection Laws were passed to prevent unsophisticated consumers from being misled as to the total cost of financing.
- Liability is imposed upon Lenders and/or Banks for any violation, no matter how trivial.
“Consumer Protection Laws are the most powerful weapons to keep Private Corporations within their legitimate sphere of business and to punish them for violations of the laws, which are not invoked on behalf of the consumer enough.”
-Justice Marshall-
Major Recent Developments
- FBI Issues Mortgage Fraud Notice in Conjunction with the Mortgage Bankers Association
-March 31, 2007-
- Congress amends HB 1655 establishing the Mortgage Fraud Unit under the Attorney General
-March 31, 2007-
- The Federal Reserve announces stricter provisions for banks by highlighting the Home Mortgage Disclosure Act
-July 25, 2007-
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