WASHINGTON — In the wake of Bank of America Corp.’s announcement last week that it had decided to exit the subprime mortgage business, the Mortgage Bankers Association issued a statement Wednesday denouncing recent state and local predatory lending measures and urging lawmakers to enforce consumer-protection laws that have been on the books much longer.

The trade group said these new laws aimed at punishing disreputable subprime lenders are burdening reputable companies with new legal, business, and public-relations risks and otherwise making it harder for them to provide credit.

Moreover, the group said, these same restrictions narrow consumer choice and do little to stop the rogue operators.

The MBA said better enforcement of current laws and better financial literacy among consumers can combat abusive lending without penalizing legitimate lenders.

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