concept

Steering

Facts (5)

Sources

Predatory Lending Practices - House.gov commdocs.house.gov U.S. House of Representatives, Committee on Banking and Financial Services 3 facts

claimMr. Bartlett asserts that prepayment penalties are the critical factor enabling 'steering' in mortgage lending, as they prevent borrowers from refinancing to escape high-rate loans.

claimMr. Bartlett explains that without prepayment penalties, the marketplace would discipline 'steering' because lenders would not pay premiums (referred to as 'kickbacks' by consumer advocates) for placing borrowers in higher-rate loans if the borrower could easily refinance.

perspectiveMr. Bartlett argues that 'steering'—the practice of placing a borrower into a higher interest rate loan than they qualify for due to their lack of financial sophistication—is an offensive practice incentivized by current lending structures.

Governance in Practice: How Open Source Projects Define ... - arXiv arxiv.org arXiv 5 days ago 1 fact

measurementThe distribution of governance roles across studied open source projects is as follows: Core Maintainer (50), Contributor (29), Steering (20), User (12), Project Specific (9), Owner (8), Advocacy (4), Emeritus Maintainer (4), Triage (3), Reviewer (2), and Committer (1), totaling 133 roles.

The Fair Lending Implications of Targeted, Internet Marketing consumercomplianceoutlook.org Consumer Compliance Outlook 1 fact

claimThe Equal Credit Opportunity Act (ECOA) and the Fair Housing Act prohibit steering.