Sen. Lauch Faircloth, R-N.C., on Tuesday complained that Minneapolis-based Norwest Corp. and other bank holding companies are taking advantage of low-income individuals by making home equity loans at 125% of a property's value.

"I am greatly troubled when we see very reputable financial institutions, through their subsidiaries, getting into what I would consider very precarious, reckless, bordering-on-sleazebag lending," he said at a hearing on risky consumer lending.

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