Laws against predatory lending work without cutting off credit, according to a study released by the Center for Responsible Lending, a nonpartisan research and policy organization. States with the strongest predatory lending laws -- Massachusetts, New Jersey, New Mexico, New York, North Carolina and West Virginia -- showed the largest declines in loans with predatory terms, according to the study, "The Best Value in the Subprime Market: State Predatory Lending Reforms," which examined more than 6 million subprime mortgages from 1998 through 2004, or three-quarters of all the loans in the subprime market during those years. Predatory lending laws have stirred controversy in some states because critics have said tight restrictions would limit the number of subprime loans available. The study, however, claims that these laws didn't decrease the number of loans available. "This study demonstrates that critics who claim anti-predatory-lending laws will dry up people's access to credit are...
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