Sentences with phrase «as predatory loans»

Not exact matches

The state of New York is considering regulating online lenders after lawmakers found that there was «significant potential for unscrupulous online lenders to exploit consumers through predatory practices such as unusually high interest rates, lack of disclosure of hidden fees, and unclear loan terms.»

Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

Look out for things such as the number of loans in default, predatory lending complaints, and customer feedback.

Ms. McLean announced that the government is working with credit unions to offer short - term loans as an alternative to predatory loans.

In addition to the concern about lenders» strong incentives to offer predatory loans, they argue that such «teaser» payment loans have the risk of boosting housing bubbles as they are popular with both borrowers and lenders, who expect housing prices to continue to rise during bubbles.

Her almost childlike, drumbeat belief in the power of school choice as a panacea, along with her unwillingness to protect college students from predatory for - profit schools and predatory loans, make her a destructive force in education..

Bottom line: Payday loans are as predatory as they come with high interest rates, short terms and hidden fees.

But as useful as a personal loan can be, it's also a market that attracts predatory lending.

Primarily because of high interest rates that hover around 400 percent, payday loans are often characterized as predatory, even criminal.

Predatory lending is in a legal sense the offering of certain secured loans such as home loans or car loans by lenders with the sole intention of seizing the property in order to sell it for a profit knowing that the borrower will not be able to afford the monthly payments on the loan.

I pushed back, exclaiming that I have never seen such horrible loan products as the predatory student loans that were issued like candy during the heyday of subprime lending.

This is a heated topic in consumer advocacy circles as usory lending is deemed to be predatory and takes advantage of people in desperate situations who need to obtain short term loans.

We do not offer payday loans on our websites as we believe that they are predatory and can cause a snowball effect where consumers who take them out push themselves further and further into debt that they can not pay off.

Many consider a payday loan as «predatory,» meaning it is meant to make money for the lender, not actually help the borrower.

Also, there are less strict regulations with their approval process, where they give private student loans to unqualified borrowers, which is just as bad as predatory lending.»

Small - dollar personal loans are often great alternatives to predatory small - dollar loans such as payday loans or auto title loans.

It bars practices associated with predatory lending such as frequently refinancing a loan in order to charge fees.

There are other predatory practices such as loan packing, loan flipping, asset - based lending and reverse redlining.

When you are applying for a loan you have to be mindful as there are many financial institutions practicing predatory lending and there are even others...

The division was instrumental in helping students and young consumers navigate a confusing and costly system, as well as taking legal action against lenders, predatory for - profit colleges, loan servicers, and debt collectors who misled young people.

These loans may be considered predatory loans as they have a reputation for extremely high interest and hidden provisions that charge borrowers added fees.

Many felt it was merely predatory lending, offering risky mortgage programs at unreasonable costs, often pushing under - qualified borrowers into poorly explained loan programs such as option - arms and interest - only home loans, leaving them with mountains of debt.

These loans are often regarded as predatory because they target low - to moderate - income citizens.

A helping hand is needed for the low - income borrowers who are currently facing foreclosure as a direct result of the Subprime Lenders and Predatory Brokers who assited with providing these loan products to homeowners..

It bars practices associated with predatory lending such as frequently refinancing a home loan in order to charge fees.

Unfortunately, the lower scores of African Americans and Latinos are not a surprise, both because of the legacy of discrimination and because these groups have been disproportionately affected by predatory credit practices such as the marketing of subprime mortgages, overpriced auto loans as well as higher foreclosure rates, all of which damage their credit history.

For one thing, these groups are already disproportionately affected by predatory credit practices, such as the marketing of subprime mortgages and overpriced auto loans targeted at these populations.11 As a result, these groups have suffered higher foreclosure rates.12 African Americans and Latinos also suffer from disparities in health outcomes, and as discussed in Section IV of this testimony, health care bills are another source of black marks on credit reportas the marketing of subprime mortgages and overpriced auto loans targeted at these populations.11 As a result, these groups have suffered higher foreclosure rates.12 African Americans and Latinos also suffer from disparities in health outcomes, and as discussed in Section IV of this testimony, health care bills are another source of black marks on credit reportAs a result, these groups have suffered higher foreclosure rates.12 African Americans and Latinos also suffer from disparities in health outcomes, and as discussed in Section IV of this testimony, health care bills are another source of black marks on credit reportas discussed in Section IV of this testimony, health care bills are another source of black marks on credit reports.

As a person learns the ins and outs of adulthood, predatory credit offers, impulse shopping, student loans, and all - around poor decision - making can take a collective toll on a credit score.

The OCC preemption permits national banks and their operating subsidiaries to provide mortgage financing without being subject to the same licensing and other requirements, including predatory - loan protections, as state - chartered lenders.

Opponents criticize the non-conforming sub-prime lending industry for predatory practices such as targeting borrowers who do not have the resources to meet the terms of their loans over the long term.