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Subprime Lender Lobbying Foiled Safeguards

Ameriquest's budget to woo local, national officials: $20M+

By Jim O'Neill, Newser User

Posted Dec 31, 2007 10:59 AM CST

(Newser) – Subprime giant Ameriquest spent more than $20 million on political donations from 2002 to 2006 to successfully lobby against lending restrictions meant to protect borrowers, reports the Wall Street Journal. Though the company spent millions at the national level, its focus was local, where regulators... Read full story »

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Subprime Lender Lobbying Foiled Safeguards

Ameriquest's budget to woo local, national officials: $20M+

Citigroup • subprime mortgages • Wells Fargo • Countrywide Financial • borrowers • Ameriquest Mortgage • Roland Arnall

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More Newser Stories

Top Subprime Lenders Owned by Bailout Banks

Analysis of gov't data reveals sources of the economic meltdown

Citigroup Faces Pressure to Help Troubled Borrowers

Fallout mounts from $45B mortgage portfolio

Countrywide to Refinance Risky Home Loans

About 80,000 subprime borrowers will get lower rates from the $16B plan

Citi Shareholder Revolt Bad News for Other Big Banks

Wells Fargo, Bank of America may have reason to worry

Massachusetts Sues Big Banks Over Mortgage Fraud

Says it will not sign onto any lenient robosigning settlement

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