SB 475 - Georgia Fair Lending Act; revise; prohibit home loan practices; definitions

Sponsored By

• (1) Fort,Vincent 39th
• (2) Thompson,Steve 33rd
• (3) Reed,Kasim 35th
• (4) Orrock,Nan 36th
• (5) Jones,Emanuel 10th
• (6) Brown,Robert 26th

Committees

• SC:B&FI
• HC:

Current Status

First Reader Summary

A BILL to be entitled an Act to amend Title 7 of the Official Code of Georgia Annotated, relating to banking and finance, so as to revise the "Georgia Fair Lending Act"; to prohibit abusive home loan practices; to provide for definitions; to provide for prohibited practices and limitations relating to covered home loans and high-cost home loans; to create specific and numerous consumer protections for covered home loans and high-cost home loans; to provide for penalties and enforcement; to provide for exceptions for unintentional violations; to provide for related matters; to provide for severability; to provide for legislative intent; to provide for applicability and an effective date; to repeal conflicting laws; and for other purposes.

Status History

Versions

1. As introduced LC 34 1554