I see now why msduncan didn't provide a link to his quotation - it's from the heritage foundation
. Ha. Surprisingly, there's actually a few sane people posting on their site, but they're being shouted down by the black helicopter crowd.
The heritage foundation's take is maximally misleading, of course. The purpose of the bill
is to create a national licensing system for mortgage brokers (to combat the rampant fraud seen during the mortgage bubble). There is no national "fingerprint registry."
As part of the background check, and "in connection with an application to any State for licensing and registration as a State-licensed loan originator," an applicant submits their fingerprints to the mortgage licensing system for an FBI background check, they submit a credit report, and they take 20 hours of educational classes on ethics, federal law, and mortgage lending standards. Oh, and pass a hundred question test.
There are 12 co-sponsors, plus Feinstein:
Sen Boxer, Barbara [CA] - 2/14/2008
Sen Cantwell, Maria [WA] - 4/10/2008
Sen Carper, Thomas R. [DE] - 5/20/2008
Sen Clinton, Hillary Rodham [NY] - 4/10/2008
Sen Dole, Elizabeth [NC] - 4/10/2008
Sen Klobuchar, Amy [MN] - 4/10/2008
Sen Kohl, Herb [WI] - 5/6/2008
Sen Martinez, Mel [FL] - 2/6/2008
Sen Mikulski, Barbara A. [MD] - 4/10/2008
Sen Nelson, Bill [FL] - 5/6/2008
Sen Obama, Barack [IL] - 4/10/2008
Sen Salazar, Ken [CO] - 2/25/2008
Where's the citation for "The Fingerprint Registry would not be limited in use in the future to the mortgage industry"?
There isn't one in your link to the news.com article - instead, it reads:
"In the proposed federal system, what remains unclear is what happens to the fingerprints once submitted. The legislation talks about a "background check"--which would imply a one-time use--but also creates a Nationwide Mortgage Licensing System and Registry that "provides increased accountability and tracking of loan originators.""
And then the article mentions that they hadn't yet talked with Martinez or Feinstein's people.
Nothing to see here, folks. Much ado about nothing.