House Banking Committee Chairman Henry Gonzalez, D-Texas, flexed his muscle to get an amendment of his included in the banking bill that overturns a federal appeals court ruling and reinstates a Texas prohibition on home equity loans. Gonzalez, ever the populist, feared banks would use the district courts ruling to get consumers needlessly and recklessly in deep debt and, as a result lose their homes.

Robert Harris, president of the Texas Bankers Association, chastised Gonzalez for his action. Its a sad day for Texans when a politician in Washington can dictate to people here what they can and cant do with their own assets, Harris said.

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