Democrats Prepare Bills to Tighten Loan Rules
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The rules would prohibit a range of practices used to market subprime loans to people with weak credit histories.
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Democrats took the first steps Friday in what could be a long march to court in a tug-of-war between the White House and Congress over subpoenas and executive and legislative branch powers.
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With promises to curb credit card fees and protect home buyers and military families from unfair lending practices, Democratic candidate John Kerry is making a pitch aimed squarely at voters' checkbooks.
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The chairman of the Senate Banking Committee is working on a plan to set up a company to buy distressed home loans at currently discounted values and use the money to help fund new mortgages.
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The White House on Tuesday threatened to veto a bill backed by U.S. House of Representatives Democrats that would slash subsidies paid to college student-loan companies such as Sallie Mae, Citigroup and Bank of America.
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Under pressure from state and local officials, Democratic leaders in Congress are slowing their drive to revamp the nationâs voting systems.
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Democrats rewarded organized labor Thursday for helping them retake control of Congress, passing a House bill that would make it easier for workers to start unions against companies' wishes.
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A probable move to curb funding for a 'surge' may put Democrats at odds with one another.
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WASHINGTON -- Democrats looking for money to pay for health care priorities renewed their focus on insurers Thursday.
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House Democrats have drafted a plan that calls for major changes in Medicare and promises to intensify the battle with the White House over health care.
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If they retake control of Congress, Democrats will act quickly to increase the minimum wage, lower prescription drug costs and slash interest rates on student loans, House Minority Leader Nancy Pelosi said Saturday.
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The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
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Rallying a party stung by presidential and congressional losses, the incoming Senate Democratic leader reminded fellow lawmakers on Saturday of their shared commitment to help the nation.
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Regrouping after heavy election losses, the Democrats' Senate fund-raising operation has paid nearly &#36;4 million in debts and recruited senators to raise money, enlist candidates and develop strategy for 2006.
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The chairman of the banking committee of the Senate will on Wednesday afternoon unveil a comprehensive plan to reform mortgage lending, sources familiar with the plan said.
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Bank regulators tightened standards for mortgage lending on Friday in a bid to curtail risky practices that have been blamed for a record level of foreclosures.
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Democrats accused Republicans of disastrous economic policies as Congress moved Thursday toward shipping President Bush an &#36;800 billion increase in the federal borrowing limit.