Black Legislatures Who Pushed Hb 4050 Say Critics Are Wrong

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"I took out all of the zip codes because I wanted it to be statewide, but we couldn't pass it statewide," [Jacqueline Collins] said. "Those same individuals who are protesting it being zip codes protested it being countywide or statewide."

"In order to point out the problem with foreclosures, we have to do a study," [Deborah L. Graham] said. "This (HB 4050) is the study. This is a pilot program. In order to find out if there is a problem we have to do a sampling with the 10 zip codes. But the Department of Financial and Professional Regulation chose those zip codes."

"It's a pilot program designed to find out if there is a better way to educate consumers who live in communities who are most likely to be offered predatory loans," [Susan Hofer] said. "We chose the 10 zip codes based on criteria in the law. And the criteria are what I told you about first. The original language in the law, when they were debating this, was five zip codes. Those five zip codes are part of the 10."

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Black Legislatures Who Pushed Hb 4050 Say Critics Are Wrong

While a coalition of Black and Latino South Side residents met Wednesday to figure out a way to rescind predatory lending law House Bill 4050, a couple of Illinois Black Caucus legislators defended their actions in helping push through the bill.

State Sen. Jacqueline Collins (D-16th) and State Rep. Deborah L. Graham (D-78th) told the D...

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