Amy Klobuchar: “Complex and deceitful lending practices were at the heart of the financial crisis, and as we work to reform Wall Street…”

“Complex and deceitful lending practices were at the heart of the financial crisis, and as we work to reform Wall Street we must ensure that the homes and the home equity of Americans are not put at unnecessary risk. With 1 in 7 homeowners--1 in 7, who would have ever thought that--delinquent on their mortgage or already in foreclosure, and many home loans delinquent, the housing market continues to slow economic recovery. It has been estimated that each year predatory mortgage lending results in a loss of $1.9 billion for American families. It is critical that families have access to safe, fair, and affordable mortgages. Important borrower protections such as those we have in Minnesota should be a national policy to help safeguard families across the country.”