Dodd mortgage bill will barn lending practices now harming consumers

September 5 2007 MarketWach.com Senate Banking Committee Chairman Christopher Dodd, D-Conn., said Wednesday he will introduce a bill aimed at protecting homeowners, particularly in the hard-hit subprime mortgage market. The bill would ban prepayment penalties, prohibit "steering" of customers to higher-priced loansand take other steps. "My bill will help keep Americans in their homes while also helping to restore public confidence in our mortgage and capital markets," said Dodd, who is running for president.

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