Via today's Act on Mass newsletter, I learned that the $4 billion economic development bill contained a section which would shield "foreclosure rescue" shared-appreciation mortgage lenders from liability for predatory lending practices and lack of disclosure in their agreements. It seems designed to inoculate BlueHub Capital from a pending class-action lawsuit. Despite outcry from advocacy organizations, Governor Healey left this intact when she signed the omnibus jobs bill last week. BlueHub's CEO has been one of Healey's biggest donors and fundraisers. A bad look.

https://www.wgbh.org/news/housing/2024-11-18/advocates-implore-healey-to-veto-shield-for-roxbury-nonprofit-accused-of-predatory-lending

https://www.wgbh.org/news/politics/2024-11-20/healey-signs-4-billion-jobs-bill

#MApoli #PredatoryLending #ConsumerProtection #MauraHealey #BlueHub #Massachusetts