Dodd’s bill has similar goals to one passed by House lawmakers last month.

It would enact stricter standards for subprime loans made to borrowers with poor credit — and for other “nontraditional” loans that allow borrowers to defer principal or interest payments, according to an outline distributed at a briefing for reporters Monday.

For those types of loans, lenders would be required to determine that a borrower can pay back the loan.

???

♥