SENATOR TINA SMITH TAKES AIM AT PREDATORY LENDING

Minnesota’s U.S. Senator Tina Smith is calling on the Consumer Financial Protection Bureau to improve protections for Minnesotans purchasing manufactured homes, after hearing from multiple consumer advocates that unwitting home buyers are often steered toward higher-cost loans. Sen. Smith—a member of the Senate Banking, Housing, and Urban Affairs—and eight of her Senate colleagues highlighted the lack of transparency manufactured homebuyers face when it comes to lending practices.