Sentences with phrase «predatory subprime lending»

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 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.»

On Thursday morning, State Senator Jeff Klein and State Senator Diane Savino will release, «Road to Credit Danger: Predatory Subprime Auto Lending in New York,» an investigative report exposing the top deceptive subprime auto lending and advertising practices presently occurring in New YoSubprime Auto Lending in New York,» an investigative report exposing the top deceptive subprime auto lending and advertising practices presently occurring in New Yosubprime auto lending and advertising practices presently occurring in New York City.

Albany, NY — Independent Democratic Conference Leader Senator Jeff Klein (D - Bronx / Westchester), Senator Diane Savino (D - Staten Island / Brooklyn), Committee on Consumer Protection Chair Senator David Carlucci (D - Rockland / Westchester) and Senator Jesse Hamilton (D - Brooklyn) introduced a legislative package on Monday to protect consumers from predatory and subprime auto lending.

Queens, NY — Independent Democratic Conference Leader State Senator Jeff Klein (D - Bronx / Westchester) and State Senator Diane Savino (D - Staten Island / Brooklyn) will release, «Road to Credit Danger: Predatory Subprime Auto Lending in New York,» an investigative report exposing the top deceptive subprime auto lending and advertising practices currently happening in New YoSubprime Auto Lending in New York,» an investigative report exposing the top deceptive subprime auto lending and advertising practices currently happening in New Yosubprime auto lending and advertising practices currently happening in New York City.

«Predatory subprime auto lending takes advantage of vulnerable New Yorkers in every corner of our state and often drives people with bad credit further into debt.

Albany, NY — Independent Democratic Conference Leader State Senator Jeff Klein (D - Bronx / Westchester) and State Senator Diane Savino (D - Staten Island / Brooklyn) announced Tuesday that the State Senate passed two critical pieces of legislation they sponsor aimed at predatory subprime auto lending in New York.

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.

One reason to apply with a recommended bad credit mortgage lender, is that some subprime lenders practice what is called 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.

The NACA homeownership program is our answer to the huge subprime and predatory lending industry.

Oh — one more thing, gbaikie — look up deceptive marketing practices used by lenders to sell subprime loans (you can start that search with the keywords «predatory lending.»)

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.

About Blog The Mortgage Lender Implode - O - Meter - tracking the housing finance breakdown, related to Alt - A and subprime mortgages, lending fraud, predatory lending, housing bubble, mortgage banking, foreclosures, debt, consolidation, lawyers, class - action lawsuits.

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

Subprime lending becomes predatory lending only when lenders take advantage of borrowers, analysts say.

Prior to the 2008 housing crash, predatory lending and subprime mortgages were becoming the norm either in practice or in process.