The hearing will consider the history and current status of subprime mortgage lending and non-traditional mortgage loans executed by non-bank financial companies. The hearing will also consider the Federal Trade Commission’s authority and use of its authority to protect consumers from unfair or deceptive lending practices by non-bank entities. The hearing will also examine ways to improve consumer protections in subprime and non-traditional home lending. Senator Dorgan will preside.
Witness Panel 1
Ms. Lydia ParnesDirector, Bureau of Consumer ProtectionFederal Trade Commission
Witness Panel 2
The Honorable Richard BlumenthalAttorney GeneralState of Connecticut
Ms. Kathleen KeestSenior Policy CounselCenter for Responsible Lending
Mr. Ira RheingoldExecutive DirectorNational Association of Consumer Advocates
Mr. Bill HimplerExecutive Vice President, Federal Government AffairsAmerican Financial Services Association