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Chapter 6

  • Keep It Safe
  • You Will Know
  • Account Regulations
  • Prohibited Basis under the ECOA
  • Truth in Lending Disclosure
  • Sample Denial Letter
  • Sample Complaint Letter
  • Predatory Lending
  • Predatory Lending (continued)
  • Predatatory Loan Offer


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    Predatory Lending






    The following are tactics
    that can be considered predatory:


  • High-pressure and misleading sales pitches
  • Excessive fees and interest rates beyond what is necessary to cover the risk and make a profit
  • " Packing on" or requiring unnecessary products that are included in the loan balance.
  • Sign containing the word caution and a dollar sign.