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Letter to Rep David Scott regarding the Prevention of Predatory Lending Through Education Act H R 1865

Letters to Congress

Letter to Rep. David Scott regarding the Prevention of Predatory Lending Through Education Act, H.R. 1865

September 23, 2003

The Honorable David Scott
417 Cannon House Office Building
Washington, DC 20515

Dear Congressman Scott,

On behalf of the Credit Union National Association (CUNA), which represents more than 90 percent of our nation's more than 10,000 state and federal credit unions and 83 million credit union members, I would like to express support for your introduction of the Prevention of Predatory Lending Through Education Act, H.R. 1865.

CUNA supports your efforts to provide consumers with informational programs about lending laws and counseling and referral services for current and prospective homebuyers. It is essential that consumers have access to resources about deceptive lending practices in order to make informed decisions and protect their financial well-being.

CUNA and its member credit unions are committed to helping our members create a better economic future for themselves and their families. CUNA has long advocated for the elimination of lending practices that are intentionally structured in a manner that is deceptive and disadvantageous to borrowers, and have looked for new ways to reach out to the underserved communities to bring them into the financial mainstream and away from unscrupulous lenders.

Again, CUNA and its member credit unions support H.R. 1865, and appreciate your efforts to safeguard consumers by providing access to informational and counseling services.

Sincerely,
Daniel A. Mica
President & CEO

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