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Consumer group spent $180,000 lobbying gov't in 1Q



09 May 2008 @ 11:39 am EST

WASHINGTON (AP) - The Center for Responsible Lending, a consumer group pressing for tighter controls on lending practices, spent $180,000 lobbying in the first quarter.

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The Durham, N.C.-based advocacy group has been an active participant in the debate about tighter regulations for mortgage lenders. It lobbied on numerous bills affecting home loans and credit cards, according to a disclosure form filed April 22 with the Senate's public records office.

Besides lawmakers, the advocacy group lobbied agencies including Federal Reserve, the Federal Deposit Insurance Corp., the National Credit Union Administration, the Office of Thrift Supervision and the departments of Housing and Urban Development and Treasury.

The group spent $640,000 lobbying the government last year, according to disclosure forms.

In particular, the group has pressed for legislation backed by House and Senate Democrats that would allow bankruptcy judges to alter the terms of a mortgage in court. That piece legislation is strongly opposed by the mortgage industry, which says it would raise costs for borrowers.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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