Informed Consumer Choice in the Subprime Market

Author:	Janis Bowdler
Contact:	Janis Bowdler
Date:	Jul 24, 2006
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Related
Topic:	Community and Family Wealth-Building
Program:	NCLR Community Development Programs
Policy:	Protecting Assets and Wealth
Region:	DC

Summary

The Home Ownership Equity Protection Act (HOEPA) requires that the Federal Reserve hold periodic public hearings on the state of home equity lending and the adequacy of the relevant legislation and regulations (including HOEPA and the Truth in Lending Act). In June 2006, the Federal Reserve sponsored a series of hearings across the country. These remarks were presented before Governor Olsen and representatives from the Federal Reserve in Philadelphia, Pennsylvania, July 9, 2006.