CALPIRG Blog

Governor Schwarzenegger signed a group of mortgage reform bills including CALPIRG sponsored AB 260 (Lieu).  The bills are the first in the state that address the causes of the mortgage crisis.

Abusive lending practices fueled the housing boom, and helped make California the epicenter of the mortgage meltdown.  The legislation enacted today will help ensure that California does not go down this path again.  This is a message that this state is no longer the wild west for the lending industry. 

For our full press release on the victory and details on the bills click here.