The Federal Deposit Insurance Corporation (FDIC) identifies predatory lending as involving at least one of the following: (a) making unaffordable loans based on borrower assets rather than ability to repay, (b) inducing a borrower to refinance a loan to charge high fees, or (c) engaging in fraud or deception to conceal loan terms from unsophisticated consumers.

Authors

• Person: Yuqing Li Organization: 7 Pillars Institute
  Financial Ethics 101: Predatory Lending - Seven Pillars Institute

Sources

• Financial Ethics 101: Predatory Lending - Seven Pillars Institute 7pillarsinstitute-org.sevenpillarsconsulting.com Yuqing Li · 7 Pillars Institute via serper

Referenced by nodes (2)

• predatory lending concept
• Federal Deposit Insurance Corporation entity