CLEVELAND - Rep. Stephanie Tubbs Jones, a House Banking Committee member, announced Tuesday that she will hold a hearing here July 6 on predatory lending.
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The Ohio Democract said the deceptive practices of mortgage lenders burden vulnerable borrowers with high rates and other abusive conditions.
"This is an issue specific to inner-city and lower-income areas, and directly affects many of my constituents," she said. "If people are aware of these practices, it may be easier to avoid such pitfalls. I hope by holding a hearing we can hear from citizens of greater Cleveland who have been victims of predatory lending."
The hearing is scheduled for 7:30 p.m. at the Martin Luther King Jr. Library.
