What does predatory lending mean?
Definitions for predatory lending
preda·tory lend·ing
This dictionary definitions page includes all the possible meanings, example usage and translations of the word predatory lending.
Wikidata
Predatory lending
Predatory lending is the unfair, deceptive, or fraudulent practices of some lenders during the loan origination process. While there are no legal definitions in the United States for predatory lending, an audit report on predatory lending from the office of inspector general of the FDIC broadly defines predatory lending as "imposing unfair and abusive loan terms on borrowers." Though there are laws against many of the specific practices commonly identified as predatory, various federal agencies use the phrase as a catch-all term for many specific illegal activities in the loan industry. Predatory lending should not be confused with predatory mortgage servicing which is the unfair, deceptive, or fraudulent practices of lenders and servicing agents during the loan or mortgage servicing process, post loan origination. One less contentious definition of the term is "the practice of a lender deceptively convincing borrowers to agree to unfair and abusive loan terms, or systematically violating those terms in ways that make it difficult for the borrower to defend against."
Numerology
Chaldean Numerology
The numerical value of predatory lending in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of predatory lending in Pythagorean Numerology is: 7
Examples of predatory lending in a Sentence
There are 18 states and the District of Columbia that have banned payday loans and have survived just fine without these predatory lending products, there are fair and responsible lending products that have low interest rates and fees that are available and that people can use.
Direct benefits could include cash payments and subsidized home mortgages similar to those that built substantial white middle-class wealth after World War II, but targeted to those excluded or preyed upon by predatory lending, it could include free tuition and financial support at universities and colleges for first generation college students.
Translations for predatory lending
From our Multilingual Translation Dictionary
- drapieżne pożyczkiPolish
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"predatory lending." Definitions.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.definitions.net/definition/predatory+lending>.
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