The D.C. Council today passed legislation presented by Councilmember Sharon Ambrose that SUSPENDS the Predatory Lending Act for four months.

Clarification: The council voted with only Adrian Fenty voting against. The Act which suspends the Predatory Lending Act now sits with the Mayor who has ten (10) days to sign.

Thus, the Predatory Lending Act continues in effect until the suspension act is signed by the Mayor.

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Sincerely,

Real Property and Asset Management Group
Jackson & Campbell P.C.