Sentences with phrase «for predatory lending»

In essence, the Miami suits are follow - ons to the subprime mortgage crisis: creative legal attempts to hold banks accountable for predatory lending.

Not exact matches

Shareholders hit Buffett with questions about predatory lending practices at Berkshire - owned Clayton Homes; his partnership with 3G Capital, which is notorious for its layoffs and cost cutting; and the fact that many of his investments are in companies that produce products that are high in processed sugars, like Coke and ketchup, at a time when many are worried about obesity.

Center for Responsible Lending is a non-partisan organization that works to protect homeownership and family wealth by fighting predatory lending practices.

When people see banks browbeating the bond rating agencies and accounting firms to whitewash the quality of what they're pawning off on their customers, when they see bank lobbyists getting Washington to block state prosecutions of financial fraud so as to clear the way for more predatory lending and false packaging of the junk securities they're selling and to win the right not to reveal their true financial position, there's a good reason not to buy what's in these black boxes.

Predatory lending occurs when lenders impose excessive or unnecessary fees or steer borrowers into expensive loans when they could qualify for more affordable credit.

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.

Also, watch out for signs of predatory lending around home equity loans.

Predatory lending often involves creditors who don't provide proper loan disclosures or provide misleading information for borrowers.

If you're looking for a business story to intrigue your readers, try one on predatory lending, something that involves the ever - popular topics of money, politics and consumer debt.

Ms. Niou, who worked for nonprofit groups and as a legislative aide in Washington State, fighting predatory lending, has been chief of staff to a Queens assemblyman.

Nick Confessore reports that John Sampson, the State Senate leader, performed legal work for Edul Ahmad, a Queens real estate broker who was being investigated by state authorities on allegations of fraud and predatory lending, and was disciplined for acting as a notary for the broker after his notary license had expired, according to state documents.

The biggest jump in borrowers who drop out was at private for - profit colleges that recently have been accused of predatory lending, though every type of institution saw increases.

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.

Changing the bankruptcy laws to allow for discharge of student loan debts would do far more to solve the problem of predatory educational lending than any initiative Richard Cordray can conceive.

At first glance, it's easy to think this could lead to a greater default rate and overall reduction in creditworthiness for sub-prime consumers down the road, but the personal loan market expansion might bring in another danger: predatory lending.

For many households, purchasing an automobile is still considered a huge expense, and predatory lending makes it an even bigger expense than it has to be for people who need a vehicle to get to their joFor many households, purchasing an automobile is still considered a huge expense, and predatory lending makes it an even bigger expense than it has to be for people who need a vehicle to get to their jofor people who need a vehicle to get to their jobs.

When applying for these types of cards, it's important to read the terms and conditions so as not to fall victim to predatory lending.

The crime rate applies more where you looked at things like serious predatory lending and inflated home values — where older people were talked into refinancing their house that was worth about $ 40k for a loan of about $ 80k so they could lower their payments by $ 75 / month, or those who really didn't understand what they were signing were talked into majorly inflated prices for homes in areas not worth it.

For example, when you look at this change of terms from the point of view of, «Has Chase credit cards engaged in predatory lending by issuing this change in terms without an opt - out provision?»

The pre-purchase curriculum covers financial management, evaluating credit information, prequalifying & loan approval, financing options, shopping for a home, finalizing the loan, the closing process, maintaining the home, avoiding foreclosure and predatory lending practices.

While we strive to be transparent with our customers, predatory lending practices are common for all types of loans, and consumers should always be alert and aware of the signs when borrowing money.

If you are borrowing money, watch for the following signs of predatory lending practices.

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 bank regulators have been criticized for failing to stop unsafe lending during the housing boom and for pre-empting state attempts to rein in predatory lending.

For a majority of his two terms in office, President Bush oversaw a period of exceptional economic growth in the United States — that is, until predatory lending practices plunged the nation in the subprime mortgage crisis and the Great Recession.

Most of that money I took in a «manic» mode, as Sallie Mae offered me about $ 18K more than I actually needed EACH SEMESTER (it was predatory lending, for what that's worth).

The SMART Box tool is a great step in the right direction for the industry, but unless all alternative lenders adopt it, regulatory action may still be necessary to prevent predatory lending practices.

I am just asking that you recognize your predatory borrowing is as much to blame as their predatory lending for the general destruction of wealth that resulted.

However, government help is available to prevent predatory credit lending practices and to provide financial resources for food, housing and medical care.

The combination of an increase in credit availability and predatory lending practices contributed to an over-issuance of loans to borrowers with the greatest potential for mortgage default and subsequent foreclosure.

Private student loans for community college often contain more predatory lending terms, like penalties for early repayments.

That case revolved around a predatory lending scheme involving Aequitas Capital Management and the for - profit Corinthian Colleges.

Student credit cards get a lot of bad press for charging high interest rates and for using predatory lending practices.

Her experience includes both first - party and third - party insurance disputes involving claims for copyright infringement, misappropriation of likeness / right of publicity, trade disparagement, class action securities fraud, Department of Justice and grand jury investigations, actuarial malpractice, class action predatory lending, class action right - of - way / trespass, class action property and environmental damage, class action toxic tort, personal injury / class action mass tort, insurance broker - agent liability, and reinsurance.

Some argue that the strict Brunner Test should be reduced to a less strict standard since Brunner was decided at a time when private student loans were still eligible for discharge and there were many examples of predatory lending practices.

A number of factors, including predatory lending practices, increases in the cost of living, shrinking incomes, and the erosion of the safety net for Americans, have all led to an increase in poverty and indebtedness among us.

Interns are generally assigned to one attorney supervisor for each half of the summer, and work primarily with that attorney on routine cases such as eviction defense, public assistance and social insurance eligibility, protection from domestic violence and predatory lending.

In the back of every appraiser's mind is the knowledge that federal regulators are on the lookout for mortgage fraud, predatory lending, and illegal property flipping.

It concerns whether the city of Miami can bring claims against Wells Fargo and Bank of America for racially discriminatory predatory lending under the Fair Housing Act — or whether the law only allows suits by individuals directly affected by discrimination.

There are many forms of predatory lending, including loan «flipping,» in which lenders use technicalities to foreclose on buyers so that they can keep flipping the house onto the market for higher and higher prices.

However, never think that «predatory dealing» or «predatory lending» or violations of fair trade, or what is customary for the size and scope of a transaction can be swept under the rug.

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.

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The paper instead blamed predatory lending and rampant unemployment for the foreclosure waves, and credited inadequate foreclosure relief programs with failing to stem the tide.

The Title prohibits certain predatory lending tactics that were used frequently during the real estate bubble, and also establishes certain provisions for loan modifications which will help to change and reduce mortgages that are completely out of the borrower's ability to repay.