“Politically speaking, legislators may have more to fear from the bankers who collectively gave more than $200,000 to state political candidates last year, according to a review of records by The Tennessean. That includes $184,750 donated by the Tennessee Bankers Association”
Publishing info in newspapers costly, bankers group says
NASHVILLE – Legislation to cut back on the number and length of home foreclosure legal notices now required in Tennessee is being pushed by bankers who stand to save money if the bill passes and opposed by newspapers that stand to lose money.
While that is clear, the two sides – both aided by a contingent of lobbyists – clashed sharply over whether the proposed change would benefit financially strapped homeowners and the general public as the bill advanced in the House last week.
As drafted and introduced at the behest of the Tennessee Bankers Association, HB1920 would require that just one notice of a pending foreclosure be published in a newspaper based in the county where the property is located.
Current law requires three notices. That has been the case for more than 125 years in Tennessee, according to Steve Baker, a Nashville foreclosure attorney who testified before committee in support of sticking with the “tried and true” three-time publication rule.
The bill was amended in committee last week to set the number of required notices at two, a move that sponsor Rep. Jimmy Matlock, R-Lenoir City, characterized as “compromising with ourselves.”
Tennessee with its Republican majority legislature is bent on removing the rights of the people this year. So far they have tackled collective bargaining, tort reform and foreclosure laws all designed to increase corporate control in Tennessee. Many constituents are unaware they are losing their rights to be heard, to a jury, to protect their homes in court through actions of their own elected legislature, who is bent on stilling the voice of the very people who elected them. What does taking campaign money from the banking industry to alter 125 year old laws make one of these legislators, who was elected to protect the people they represent?
I hope everyone who reads this article will e-mail, write or call Tennessee representatives to protest their concerted effort to change laws to benefit the banking industry. Let them know the entire U.S. is listening and watching them! We will only be effective in our battle against unfair tactics if we voice our opinions nationwide.
and these were elected by the people? really? THEY ALL NEED TO GO. seriously, calling and writing does not seem to have any effect. these fn bankssters should then offer deed-in-lieu if they “want to save$” however, THEY WANT YOU IN FORECLOSURE. my prayers go out to all of you caught up in this. Good will eventually prevail. God Bless America. and thankyou for keeping us informed
Tennessee with its Republican majority legislature is bent on removing the rights of the people this year. So far they have tackled collective bargaining, tort reform and foreclosure laws all designed to increase corporate control in Tennessee. Many constituents are unaware they are losing their rights to be heard, to a jury, to protect their homes in court through actions of their own elected legislature, who is bent on stilling the voice of the very people who elected them.
What does taking campaign money from the banking industry to alter 125 year old laws make one of these legislators, who was elected to protect the people they represent?
I hope everyone who reads this article will e-mail, write or call Tennessee representatives to protest their concerted effort to change laws to benefit the banking industry. Let them know the entire U.S. is listening and watching them!
We will only be effective in our battle against unfair tactics if we voice our opinions nationwide.
and these were elected by the people? really? THEY ALL NEED TO GO. seriously, calling and writing does not seem to have any effect. these fn bankssters should then offer deed-in-lieu if they “want to save$” however, THEY WANT YOU IN FORECLOSURE. my prayers go out to all of you caught up in this. Good will eventually prevail. God Bless America. and thankyou for keeping us informed