The Federal Trade Commission (FTC), a federal agency that polices predatory or anticompetitive consumer practices, told the U.S. House Financial Services Committee on Thursday that they continue their probe into the practices of certain mortgage lending companies.
The agency said their current investigations are part of an “aggressive law enforcement and consumer education program” designed to protect home buyers and consumers.
During the FTC’s testimony, agency representatives said they recently developed  two dozens cases against large subprime lenders, major non-mortgage creditors and small finance companies due to alleged practices that violate the Equal Credit Opportunity Act (ECOA).
Click here to read the FTC’s full statement.