Fair Lending, Civil Rights Groups Blast Senate Housing Bill

Law360, New York (March 24, 2014, 12:20 PM EDT) -- Fair lending and civil rights groups on Friday said proposed legislation for winding down Fannie Mae and Freddie Mac would "needlessly" make mortgages less available for minority borrowers, opening a potential battle with Senate liberals over housing finance reform.

According to the seven groups, the bill released March 16 by Senate Banking Committee Chairman Tim Johnson, D-S.D., and the committee's ranking Republican, Idaho Sen. Mike Crapo, does not have enough of a focus on allowing minority and lower-income borrowers access the mortgage market, and sets too...
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