In September 1994, President Clinton signed the Home Ownership and Equity Protection Act into law. This piece of legislation was written by Joseph P. Kennedy of Massachusetts. The law is designed to address some of the unfair and deceptive practices within home equity lending. Basic Features This law amends the Truth in Lending Act (known as TILA) and creates requirements…
November 2013
Dodd-Frank refers to an extensive and complex piece of financial regulation work that developed after the Great Recession of 2008. This law puts strict regulations and requirements in place throughout the financial industry. After major financial collapses like Lehman Brothers occurred during the Great Recession, the goal of this act is to prevent events like this from happening again. Basics…