MPA Hot 100 2014: Gayle McLaughlin

by Ryan Smith20 Dec 2013
Gayle McLaughlin brought the middling-sized city of Richmond, Calif., to sudden national prominence this year with a plan to use the power of eminent domain to seize underwater mortgages from noteholders in an effort to save struggling homeowners. The plan drew a firestorm of protest from industry groups, and lending giants including Wells Fargo and Deustche Bank even filed a lawsuit to stop it. The suit was tossed, however, and McLaughlin said she thinks more cities will follow Richmond's lead once the plan is executed. Whether it ever will be, however, remains to be seen.



Is TILA-RESPA a good or bad thing long term?