O'malley Lobbies for Bill to Aid Banks ; Supports Fees On Borrowers
The Washington Times › February 27, 2008
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Summary
Gov. Martin O'Malley has made himself the consumer's champion in the home-foreclosure crisis by publicly questioning mortgage lenders about their practices, but has less publicly been lobbying for a bill to allow Maryland-chartered banks to charge borrowers pre- payment "penalties."
The bill emerged in the General Assembly while a class-action suit is pending against Provident Bank after the bank charged customer Andrew Bednar a $681 penalty for refinancing a $17,000 loan.See the full content of this document
Extract
O'malley Lobbies for Bill to Aid Banks ; Supports Fees On Borrowers
Yesterday, Mr. O'Malley summoned the mortgage lenders to the State House to discuss ways to stop the growing number of foreclosures in Maryland and vowed to crack down on those who would not cooperate.
But critics ...See the full content of this document
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