Washington failed to act the first time around -- when lenders were engaged in a frenzy of predatory lending. The foreclosure scandal is a second chance for lawmakers to prove they can ferret out the truth.
HMDA is a crucial tool in the fight against discriminatory lending, but the data currently collected is not sensitive enough to detect some of the problematic practices that triggered the foreclosure crisis.
The Home Mortgage and Disclosure Act is a crucial tool against predatory lending. Without its transparency and lender accountability, minority homeowners will again bear the brunt of risky lending practices.
I just got back from the White House, where I watched President Obama sign the banking reform bill, and I reflected on what a significant victory it is for Hispanics and other minorities pursuing the American Dream.
J.P. Morgan's Chief Economist James Glassman recently indulged in a vaguely worded assault on financial reform, arguing that Congress is about to ruin the economy by cracking down on Wall Street. Don't believe a word of it.
The level of debt I took on for my degree was my choice, regardless of the consequences. But at the very least, students and families should be assured that the private loan products are fair and transparent.