Although we have achieved much in this regard, more remains to be done. The Fed and other banking regulators must tread a delicate line between stemming abusive lending practices and keeping legitimate channels of credit open to low-income people and those with poor credit histories. A consumer advocate welcomed Greenspan's remarks but said action is needed. Congress knows predatory lending is a problem. The Clinton administration knows this is a problem.
Actions speak louder than words.
All rights reserved.