Complying with the Tennessee Home Loan Protection Act

Consumer Finance Law Quarterly Report, Vol. 61, No. 4, Winter 2008

12/1/2008

Richard A. Vance and Ronald G. Steen, Jr.

After years of contentious debate and numerous attempts, in 2006 Tennessee passed the Tennessee Home Loan Protection Act (the Act) , which is intended to address predatory actions by lenders and loan brokers against consumers. The Act was sponsored by Tennessee State Senator Roy Herron and State Representatives Larry Turner and Chris Fitzhugh. It reflects years of work and negotiations between numerous consumer advocate and industry groups, including the Memphis/Shelby County Anti-Predatory Lending Coalition, the Memphis Debt Collaborative, the Tennessee Bankers and Mortgage Brokers Associations, and the Tennessee Association of Realtors.

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