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Enforcement of all federal fair-lending laws falls largely on the Federal Trade Commission, which has recently made lending cases a top priority, said David Medine, associate director of the commission's division of consumer protection.
Under Perez, the Civil Rights Division opposed voter ID laws in Texas and South Carolina and settled the three largest fair lending cases in history.
The GOP bill that passed on Tuesday would allow companies to charge very high interest rates on mobile home loans -- up to about 14percentt in the current market -- while still getting the benefit of the doubt in court for predatory lending cases.
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At the time, the settlement was by far the largest the federal agency had ever obtained in a predatory lending case.
In March, the First Alliance Mortgage Company, a bankrupt subprime mortgage lender, agreed to pay $60 million to settle a predatory lending case brought by the Federal Trade Commission involving 18,000 customers.
To settle a predatory lending case brought by 15 states attorneys general, Bank of America has agreed to an $8.4 billion modification program covering some 400,000 loans acquired when it took over Countrywide Financial in July.
The targets of multistate actions include Microsoft, which still operates under an intricate set of rules devised by lawyers working for the states and the Department of Justice Bristol-Myers Squibbb, which paid the states $58 million to settle antitrust claims over its Taxol cancer drug in 2003; and Household International and Ameriquest, which paid $809 million to settle predatory-lending cases.
The settlement dwarfed previous fair-lending cases.
Similar fair-lending cases have been filed since October by black consumers against the financing arms of Ford, DaimlerChrysler and Toyota.
While past lending discrimination cases primarily focused on "redlining" — a bank's refusal to lend to qualified borrowers in minority areas — the new push will instead center on a more recent phenomenon critics have called "reverse redlining".
Some of the bodies were dumped in the river south of Seattle that lends the case its name.
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