OAKLAND, Calif., April 28, 2011 /PRNewswire-USNewswire/ -- This week in Sacramento, the banking committees of both houses considered two bills designed to mitigate the effects of California's foreclosure crisis, and both failed in hearing rooms packed with supporters. Both bills, however, will be re-heard next week.
Even in light of tremendous involvement from constituents, consumer advocates, labor and grassroots organizations — and on the heels of robo-signing scandals that have caused thousands of wrongful foreclosures — legislators continue to oppose fair and simple legislation that would help Californians and the economy.
"Legislators listened to citizens who'd been wrongfully foreclosed and said, 'too bad.' What's really too bad is it appears big banks have more influence than their constituents and their communities," said Paul Leonard, California director of the Center for Responsible Lending.
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