Share this page | Email | Contact Us

Special Report on

Combating Predatory Lending

combating predatory lending special research report Photo by
There are no legal definitions in the United States of predatory lending, though there are laws against many of the specific practices commonly identified as predatory, and various federal agencies use the term as a catch-all term for many specific illegal activities in the loan industry. One less contentious definition of the term is "the practice of a lender deceptively convincing borrowers to agree to unfair and abusive loan terms, or systematically violating those terms in ways that make it difficult for the borrower to defend against." [1] Other types of lending sometimes also referred to as predatory include ...
during the loan origination process. While there are no legal definitions in the United States for predatory lending, an audit report on predatory lending from the office of inspector general of the FDIC broadly defines predatory lending as "imposing unfair and abusive loan terms on borrowers." Though there are laws against many of the specific practices commonly identified as predatory, various federal agencies use the term as a catch-all term for many specific illegal activities in the loan industry. Predatory lending should not to be confused with predatory mortgage servicing which is used to describe the unfair, ...
ADVISORY: Nadler to Examine Predatory Lending Under the Fair ...
                      Gillian Miller, Massachusetts resident who has been an apparent victim of lending practices prohibited under the Fair Housing Act                       Roger Clegg, President and General Counsel, Center for Equal Opportunity                       Gary Klein, Attorney, Roddy, Klein & Ryan   ### market research, surveys and trends
Hearing on Protecting the American Dream Part II
Compelling evidence demonstrates that banks and mortgage companies have committed prohibited practices of predatory lending and reverse redlining targeted at minority communities across the country. The very same people victimized by redlining – the refusal to provide conventional loans in minority neighborhoods – are now victimized by reverse redlining – efforts to steer minority residents of those same neighborhoods towards high cost subprime or other predatory loans. These practices have played a key role in fueling the home foreclosure crisis and devastating communities of color across our nation. For example, take my home ... market research, surveys and trends


Challenges in Combating Predatory Lending
In 2002, an estimated 63 percent of subprime loans, worth $134 billion, ..... combating predatory lending, particularly with regard to FHA-insured ... industry trends, business articles and survey research
Predatory Lending/Payday Lending - Women in Government
Predatory lending is defined by inequitable market practices that result in charging inflated fees and interest rates for loans that borrowers might not be capable of repaying. Refinancing loans over a short time period results in the borrower’s inability to improve his/her financial situation in the long run. Borrowers are also misinformed about the terms of the loan, which forces them into a financial contract that devalues their credit history and jeopardizes their financial future. [1] Predatory lending is disproportionately common in populations with low incomes or those with poor or no credit histories. The Center ... industry trends, business articles and survey research
Latino Consumers Have Much to Celebrate in New Banking Bill
is a great victory for consumers, who will now have vastly improved protections against predatory lending. The bill also contains very strong and much-needed foreclosure assistance. This is an historic piece of legislation that will change financial markets for the better. The one unfortunate blemish was Congress caving to the will of auto dealers and exempting them from new federal oversight. In a momentary lapse back into politics as usual, lawmakers shielded a loosely regulated industry from accountability. This occurred over strenuous objections from President Obama, the Pentagon, independent community banks, civil and ... market trends, news research and surveys resources
So Did Congress Actually Reform Wall Street?
the sprawling Dodd-Frank financial reform bill, the culmination of more than year of hearings, debates, negotiations, backroom deals, bickering, and an onslaught of lobbying by everyone from consumer advocates to the world's biggest banks. But despite the bill's 2,300-page length, Dodd-Frank leaves huge questions unanswered in the future of financial markets in the US. Here are five of the biggest unknowns in the bill, which now heads to President Obama's desk for signing next week. 1) Who Will Lead The CFPB? The Dodd-Frank bill will create a new Consumer Financial Protection Bureau, housed in the Federal Reserve, ... market trends, news research and surveys resources


A Practitioner's Guide to Combating Predatory Lending
A Practitioner's Guide to Combating Predatory Lending. Section I: Overview of the Predatory Lending Issue. 4. Introduction. 4. Reasons for Predatory Lending ... technology research, surveys study and trend statistics
standard is the better way to achieve our common goal of combating predatory lending.”). 17. N. Am. Co. v. SEC, 327 U.S. 686, 706-07 (1946) (stating that ... technology research, surveys study and trend statistics
Google Answers: Predatory Lending
Can anyone provide research, statistics regarding predatory lending, lender fraud and malpractice by mortgage lenders and the effects that it has on consumers, the costs involved? chancho-ga, There are a wide variety of reports available on the practices of predatory lending, and the impacts they have across the country. I've compiled links to the most authoritative reports, below. For the most part, they are factual, statistical research documents, though I've included a few "how to avoid predatory lenders" types of reports as well, since these are representative of the types of literature available. I ...
What does Barack have to do with ACORN? - Yahoo! Answers
As far as Baracknick goes, he was formerly in the employ of ACORN and did work for them back in the day. They also participated in the massive voter-registration fraud scheme that probably helped cover up legitimate voter fraud during the election. In return, Barack no doubt steered quite a bit of money their way and got a seat on doing our upcoming census in 2010. Sign in to vote! 6 Rating: Good Answer 1 Rating: Bad Answer Report Abuse Answerer 4 What if Barack Obama’s most important radical connection has been hiding in plain sight all along? Obama has had an intimate and long-term association with the Association of ...