WASHINGTON - Freddie Mac has joined forces with mayors and community groups in 13 major U.S. cities to fight predatory lending.
The government-sponsored enterprise plans to work with its new partners to launch local campaigns warning Americans about abusive lending practices. Freddie will help the cities set up billboards, Web sites, public services announcements, and special hotlines offering financial advice.
Freddie first launched the "Don't Borrow Trouble" campaign in Boston. On Thursday the agency announced it is launching campaigns in Chicago, Atlanta, Baltimore, New Orleans, Los Angeles, Oakland, Calif., Raleigh-Durham, N.C., Washington, Cleveland, Buffalo, Syracuse, and Las Vegas.