Capital Briefs: D'Amato Bill Targets Reverse Mortage Fees

Two key lawmakers Thursday unveiled legislation that would allow the Department of Housing and Urban Development to stop "excessive" fees for reverse mortgages.

At a press conference, Senate Banking Committee Chairman Alfonse M. D'Amato said "shysters and connivers" have charged hundreds of senior citizens up to $10,000 for information on reverse mortgages that HUD offers for free.

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