Protects borrowers against foreclosure for violations of these standards.

The result has been a slew of new financial instruments intended to protect lenders or borrowers against sharp changes in interest rates.

Assemblyman Cohen argued that individualized state laws were best able to protect borrowers.

The proposed amendment more closely reflects the actual business practices of lenders while protecting borrowers from unscrupulous practices.

It also provides unique, non-owned aircraft policy coverage which protects renters and borrowers of general aviation aircraft.

He said the Government would take "drastic measures to resolve the bad loan problem and will completely protect sound borrowers."

But banks and investors are under some pressure because legislators have pledged to pass laws to protect subprime borrowers against foreclosures.

Their views stem from proposed regulations designed to protect borrowers in the application process.

However, because the rule limited on contractual freedom to protect borrowers with weaker bargaining power, it was thought to be inappropriate for companies.

Barnes first got to know the organization while working to protect borrowers from socalled "predatory lenders."