Sentences with phrase «predatory financial practices»

Not exact matches

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 relevaFinancial, 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 relevafinancial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

Richard Cordray, director of the Consumer Financial Protection Bureau, commented, «Subprime [auto] borrowers may be more vulnerable to predatory practices, so direct oversight of their lending practices is essential.»

Over time, we hope that financial literacy, private sector innovation and common sense regulation transform the environment for lower credit borrowers and lead to the extinction of predatory practices.

Ensuring that borrowers are not victimized by «junk fees» and excessive charges: The CRL asserts that the recent foreclosure crisis was caused by ``... reckless and predatory lending practices and toxic financial products [and] not by any policy goal aimed at increasing home ownership.»

Some of the recognized large financial institutions offering zero interest transfers are also reputed to be the most predatory in their lending practices.

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.

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...

Over time, we hope that financial literacy, private sector innovation and common sense regulation transform the environment for lower credit borrowers and lead to the extinction of predatory practices.

The payday loan is a controversial topic in banking and financial circles, with increasing regulation and pressure to protect consumers against what may be considered to be predatory lending practices.

Enacted in 1994, the Home Ownership and Equity Protection Act (HOEPA) helps protect you against predatory lending (i.e. unfair lending practices designed to take advantage of consumers with potential financial shortcomings).

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

You've heard of predatory lending, but probably never imagined that this unethical financial practice could apply to man's best friend.

«We're here today to ensure future protections for kids, youth and everyone when it comes to the spread of predatory practices in online gaming, and the significant financial consequences it can have - and has been having - on families around this nation,» Lee said.

Lee also said adults, as well as children, need to be protected from «predatory practices in online gaming and the significant financial consequences it has been having on families around this nation.»

We have successfully represented officers and directors of banks, mortgage lenders (including those specializing in subprime loans), and other financial institutions in connection with regulatory matters and complaints brought against them arising from allegations of failure to observe their fiduciary duties, alleged fraud, alleged predatory lending practices, and other matters arising from their respective roles in guiding and leading the efforts in the marketplace of their institutions.

It's housed in the Federal Reserve but authorized to independently regulate predatory and misleading financial services practices.

The single - family housing market entrusts the average person with the ability to make incredibly large financial decisions, and thus the average person needs protection from predatory practices and the potential for astronomical missteps.