Predatory lending bill unneeded, industry says

On the heels of a new report that says exploitive mortgages are costing Rhode Islanders $65 million per year, legislators involved in drafting the report are pushing for stricter laws to limit what they call “predatory” lending. But the R.I. Mortgage Bankers Association calls the report’s findings “unsubstantiated,” and argues that proposed legislation would limit…

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