Sentences with phrase «predatory loan companies»

Often, predatory loan companies will target down - on - their - luck consumers with offers that boast high loan amounts — and sneak high interest rates into the fine print.

Not exact matches

Creamfinance works in the short term loan industry, one that has been plagued by predatory companies and outdated business practices.

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.

The investigation at the time found that the company was engaged in predatory lending practices and misrepresenting loan terms.

Many companies that give loans to borrowers with lower credit scores are predatory — they have high interest rates, high fees and short payback times.

After asking the creditors lawyer why a company would make a loan at such a predatory interest rate, he told me: «if companies like [his client] didn't exist, some people couldn't get credit.»

Many have been called payday lenders or title loan companies predatory lenders, because their interest rates often exceed 100 % APR, and they charge a variety of fees to unsuspecting customers.

While this company is not the only for - profit education company accused of predatory student loan programs, it is perhaps the most well - known.

«The only people lending to them are credit card companies, which do so in a predatory way, and the government, through student loans.»

-- you might be dealing with a predatory mortgage loan company.

Now, with this «agency reorganization», it is a blow to the agency's structural ability to take action against student loan companies who engage in predatory practices against student loan borrowers.

The company is an alternative to predatory lenders who offer payday loans and cash advances at outrageously high interest rates and on very short terms.