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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
    (continued)






  • Large prepayment penalties that are intended to trap the borrower in an unfavorable or unaffordable loan
  • Payments that increase over time and have unrealistic repayment terms
  • Loan flipping or frequent refinancing with fees folded into the loan balance that results in rising loan balances and decreases the equity in your loan
  • Aggressive and abusive collection practices
  • Sign containing the word caution and a dollar sign.