Predatory lending practices in the mortgage industry cost Americans an estimated $9.1 billion each year. Predatory lending steals hard-earned equity from individuals and disproportionately affects minorities, low-income families, the elderly, and their respective communities. On August 9, 2004, the Massachusetts legislature approved legislation to combat this growing problem. This recent legislation provides strong protection against predatory lending. Despite this positive step, nationally-chartered institutions remain virtually unregulated as a result of weak federal protections and the unwillingness of federal agencies to investigate or prosecute predatory lending practices. This Note concludes that true reform in lending requires a greater delegation of regulatory authority to the states or, in the alternative, stronger federal protections that match the efforts of states such as Massachusetts.