News and Opinion for Democrats Against Bush -- Part I a
OCC Would Stop States from Prosecuting Predatory Lenders
PT. I a - HOME PAGE
PT. I a - CONTENTS
--- BUSH-HATERS?
GEORGE BUSH
--- No Mandate!
--- Basic Dishonesty
--- Documented Lies
------ And More Lies
------ on Education
------ on Small Bus.
------ On Medicare
--- Limited Worldview
--- Arrogance
--- Ignorance
--- Real Agendas
--- Anti-Choice Dogma
--- 20 Questions
THE RADICAL RIGHT
------ Relig. Oppos'n
--- John Ashcroft
--- Dick Cheney
--- Spreading AIDS
--- 10 Commandments
--- Far-Right Terrorists
WAR AGAINST WOMEN
--- Global Gag Rule
THE RADICAL RIGHT . . is ANTI-REPUBLICAN
........says a Republican
--- Conservative Revolt
CONSERVATIVE BIAS in the MEDIA
------ Fox Network
--- Liberals Fight Back
--- Now, Liberal Radio
------ Al F. vs. Rush L.
------ Timing Is Ripe
BUSH ADMINISTRAT'N
--- 50 Lies of Admin.
------ Pt. 1. Strategy
------ Pt. 2. Language
------ Pt. 3. Targets
------ Pt. 4. Programs
--- Inflexibility
--- Secretiveness
------ EPA and FDA
--- Orwellian Aspects
--- Demoniz'g Oppon'ts
--- Silencing Democrats
--- Corporate Influence
--- Not Protect'g Public
------ Few Regulations
--- Destroying Medicare
--- Attacking Unions
--- Bad Fiscal Policy
------ Deficit Lies
--- Looting the Future
--- Iraq Policies
------ "Fog Machine"
--- Radio Free Europe
--- Wilson Leak
------ Swept Under Rug
--- "Compassionate"??
BUSH ADMINISTRATION is ANTI- STATES' RIGHTS
--- Environment
--- Church vs. State
--- Gay Marriage
--- Predatory Lenders
BUSH ADMIN. vs. SCIENCE
DEPT. of AGRICULTURE
-- Mad Cow Disease
ENVIRONMENTAL PROTECTION AGENCY
--- Illegally Influenced
FOOD & DRUG ADMINISTRATION
--- Corruption in FDA
JUSTICE DEPARTMENT
--- Anti States' Rights
------ Assisted Suicide
------ Death Penalty
--- Overriding Judges
-- Now, Secret Trials
FEDERAL BUREAU of INVESTIGATION
--- Surveillance
--- vs. Bush Opponents
BUSH AND THE COURTS
--- Judge Choice Crucial
------ Judicial Nominees
------ Republican Lies
--- Ashcroft Interferes
--- Expand DNA Dbase?
2004 CAMPAIGN
--- Financing Tricks
--- Corruption in Cong.
FAIR USE NOTICE -- This site contains copyrighted material the use of which has not always been sp

"Under the OCC's rules, federal banks would be exempted from state false advertising statutes, do-not-call registries, predatory-lending laws and other consumer protections. ...
The OCC's primary mission is to ensure a healthy banking industry. As a result, it cannot match the thousands of investigators working in state agencies to look out for consumer interests."
 
 
USATODAY.com
 
Federal banking rules erode strong consumer safeguards
 
Mon Mar 8, 6:09 AM ET
 
To read the complete article, please click on-- http://www.usatoday.com/news/opinion/editorials/2004-03-07-our-view_x.htm                  [This link was found on the USA Today website through a Google search on 3/21/04]

Excerpt-- 

In the late 1990s, North Carolina saw an upsurge in cases where banks tricked elderly homeowners into refinancing with high interest-rate loans carrying hidden fees. In response, the state enacted a law against such "predatory-lending" tactics.

Now the law is being undermined by an obscure federal agency. The Office of the Comptroller of the Currency (OCC), a branch of the Treasury Department (news - web sites) that regulates banks, ruled this winter that 14 state predatory-lending laws - and a host of other consumer-protection laws across the USA - do not apply to banks chartered by the federal government. Instead, the OCC says it will take over the job of protecting consumers who use some 2,100 banks regulated by Washington. These national institutions, including the largest banks in the USA, account for 55% of bank assets.

The new rules are meant to provide uniform oversight of an industry that has been transformed in recent decades from predominantly local operations to huge institutions with branches from coast to coast. But the change threatens strong consumer-protection laws that have been the responsibility of states for more than a century. ...

http://news.yahoo.com/news?tmpl=story2&u=/usatoday/20040308/cm_usatoday/federalbankingruleserodestrongconsumersafeguards


Copyright 2004 USA TODAY, a division of Gannett Co. Inc.

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