SIA Submits Comments to the New York City Council on Curtailing Predatory Lending Practices
Published on:
September 25, 2002
The Securities Industry Association (SIA)* provides comments toThe Council of the City of New York on legislation introduced intended to curtail predatory lending practices in New York City. SIA believes strongly that the bill (Intro. 67-A) could severely impair the secondary mortgage market, which might set a precedent for New York City to begin regulating national markets by virtueof the securities industry’s concentrated presence in New York City. SIA urges the New York City Council not to adopt the bill.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.