The first Anti-Predatory lending bill was introduced by North Carolina Democratic Representative Melvin Watt together with another North Carolina Democrat, Representative Brad Miller. Their bill was introduced on March 16, 2004. Their bill denounces the lies that no one could have seen this economic meltdown coming. At long last this important piece of Anti-Predatory lending has been incorporated into H.R. 4173.
"[O]ur work today is only a beginning, not an end. Going forward, Congress needs to attentively watch our changing financial marketplace and carefully monitor our regulators in order to protect against systemic risk, forestall potential abuses of corporate power, safeguard taxpayers, and defend the interests of consumers and investors. Moreover, the United States must continue to encourage its allies abroad to adopt strong financial services regulatory reforms so that we will have a strong, unified global financial system.
Although we may be completing our work on this bill, it is important for us to remain vigilant."
Lynn Jenkins is beholden to Republican Party Leadership PACs to the tune of $140,000 and also to Commercial Banks to the tune of $119,000. She's got to pay the piper.