New Orleans Every report indicates that predatory practices are spreading when lower income families are trying to acquire homes in the current real estate market where banks have cut back on small loans, the subprime lending market has virtually disappeared, and vulture investors are trying to exploit the situation. The terrible result has been an …
Tag: predatory lending
The Paradox and Problem of Payday Lending
New Orleans Here’s an irony that is stark, yet impossible to really appreciate or enjoy. The Atlantic billed its most recent issue as “The Money Report.” The cover article was built around the premise that almost half of the American people have trouble coming up with $400, when there is a financial bump in their …
Payday Lending is a Huge Money Maker for Big Banks
New Orleans The Consumer Financial Protection Bureau (CFPB) released a recent report in the United States with the boring title “Online Payday Loan Payments,” but despite that, wake-up, this is important. The report is ostensibly directed at online payday lenders, and there’s nothing wrong with that; they need a hard look. Many of them have …