Neil Garfinkel is quoted in an article by Bob Tedeschi in The New York Times– “Filling a Gap In Protection”

An excerpt appears below:

But lawyers and regulators suggest that the pact will improve consumer protections, and perhaps reduce borrowing costs in the long term. “I’ve got to believe this will help reduce transactional costs for the banks who want to expand across state lines, and it will increase competition among lenders, which is not a bad thing,” said Neil B. Garfinkel, a real estate lawyer with AGMB Law, a Manhattan-based firm. “And while there are federal laws that prohibit predatory lending, the state laws go much further when it comes to specifics.”