As The Fed Snoozes, States Step Into The Subprime Breach

As The Fed Snoozes, States Step Into The Subprime Breach

States are beginning to enact protections for subprime borrowers, reacting to the absence of a national solution from Washington. North Carolina last week became one of one of several states to clamp down on the adjustable-rate mortgages that have fueled the subprime meltdown.