Predatory lenders induce borrowers to add expensive additional products, such as credit life insurance financed by the loan proceeds, which reduces the equity held by the borrowers.

Authors

• Person: Not available Organization: Department of Justice
  Fair Lending Enforcement Program - Department of Justice

Sources

• Fair Lending Enforcement Program - Department of Justice www.justice.gov Department of Justice via serper

Referenced by nodes (1)

• predatory lending concept