CHICAGO – Under direction of Governor Rod R. Blagojevich, Secretary of Financial and Professional Regulation (IDFPR) Dean Martinez will hold a meeting on November 27, 2006, between 1:00 pm and 3:00 pm with community leaders, legislators, homeowners and real estate professionals to discuss ways to improve the pilot program created by HB 4050. The meeting will be on the Concourse level of the James R. Thompson Center, 100 W. Randolph, Chicago.
People who wish to share their views about HB 4050 must complete a witness slip and provide a written copy of their statement when they arrive at the hearing. The Department will alternately call witnesses representing people in support of the pilot program and those opposed to the plan. Witnesses will be called and may speak for no more than five (5) minutes. By limiting the amount of time each person may speak, the Department hopes to hear from as many people as possible during the time available.
The General Assembly's creation of the Pilot Program was intended to fight predatory lending practices that plague many communities in the State. While the program is being successfully implemented, there is a great deal of concern surrounding the law, its purpose, and its implementation. At this meeting the Department hopes to learn of any ideas to improve the pilot program by rule or through the enactment of further legislation.
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