Landlords will face greater federal scrutiny from the Consumer Financial Protection Bureau, Federal Trade Commission and other agencies amid rapidly rising rents under a plan that President Joe Biden released Wednesday.
The plan, described as a blueprint, along with actions by federal agencies, are meant to “advance a stronger, more equitable renter market,” the White House said. “Renters should have access to housing that is safe, decent and affordable and should pay no more than 30 percent of household income on housing costs.”
Progressive Democrats in Congress, including Sen. Elizabeth Warren, D-Massachusetts, and Rep. Jamaal Bowman, D-New York, praised the plan directing the CFPB, FTC, Housing and Urban Development Department, government-backed enterprises and other agencies to enhance renter protections and crack down on unfair practices.
