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SPRINGFILED, IL_ Over 100 people gathered at the first of seven predatory lending hearing in Springfield, IL to remind Ron Isaac, Assistant Director for Consumer Protection at the Federal Trade Commission (FTC) of the terrible impact predatory lending has on consumers and the FTC's responsibility to crack down on the offenders. Sponsored by The Central Illinois Organizing Project (CIOP), many congregations and community leaders from southern Illinois attended the hearing to learn more about predatory lending and to express the need to curtail these abusive practices.

CIOP leaders also expressed to Isaac the importance of the FTC's presence at the other six public hearings to be held across the country. In a ceremonial moment, CIOP leader, Rev. Jack Cramer-Heuerman, handed Isaac letters from NPA groups demanding that the FTC fulfill its commitment to attending all of the hearings on predatory lending. The FTC agreed to attend seven public hearings at the National People's Action conference in late March. Michelle Burgess, a victim of an Associates predatory loan, warned listeners that the consumer is not at fault for getting a predatory loan. Burgess's husband became a target of a predatory lender after buying an apartment building that needed extensive repairs.

"There's nothing wrong with us. There's something wrong with government regulations that allow decent, hard working people to get a predatory loan," Burgess said. The other testimonies illustrated examples of predatory lending, including deceptive practices, packing and flipping all which eventually lead to equity stripping and foreclosures on homes. Despite Rev. Charles Jackson leading the group in a chant, "Ron Isaac, we want to hear from you," on the FTC's commitment to follow up with the next six meetings, while Isaac wavered on his answer.

Isaac did commit the FTC to continuing with its lawsuit against Citigroup that targeted the conglomerate with predatory and deceptive lending practices.