Georgia Fair Lending Act

The Georgia Fair Lending Act, which was originally sponsored by Senator Vincent Fort, was passed a year ago to protect poor and elderly home owners in Georgia from exorbitant rates, pre-payment penalties, and other fees on high-interest loans. Thursday, March 6, 2003, The Georgia Senate approved a new version of the predatory lending law by a 29-26 vote. While most are in favor of this new bill, which becomes law with Gov. Sonny Perdue’s signature, there are many who object to it. Senator Don Cheeks, Republican, argued that this bill would. “Basically strip the Georgia Fair Lending Act of all its c...