The Florida Consumer Protection and Homeowner Credit Rehabilitation Act.
Sounds like a good thing, right?
But it’s the misleading title of a 53-page bill the Florida Bankers Association has drafted and wants the state legislature to enact.
The new law would make it faster and cheaper for lenders to repossess property by giving them the right to foreclose without having to go to court and obtain the permission of a judge.
That isn’t a radical idea. Thirty-seven other states already have laws that allow for non-judicial foreclosures.
But calling it “consumer protection” is a positively Orwellian attempt to manipulate public policy through propaganda and misinformation.
This is a law that could put families out of their homes in as little as three months and leave them liable for any losses the lender incurs. It is truly a bill of the banks, by the banks and for the banks.
Joe Manausa, a Tallahassee real estate broker, has already asked the very relevant question, “Does The Florida Bankers Association Think You’re Stupid?” and started soliciting more honest names.
Among the suggestions already submitted are:
- The Florida Bankers Association Bill
- The “Florida Bankers Want To Remove Judges From Making Sure The Laws Are Enforced Fairly” Bill
- The “Banks Should Be Able To Foreclose If They Feel Like It” Bill
- The “Save the Banks” Bill
- The “Bend Over!!! Your Assets are Mine!!!” Bill
We can only hope that Florida legislators think long and hard before supporting this manipulative effort — no matter how much the banks have donated to their campaigns.
Click here to read more about the bankers’ bill on TampaBay.com.