Obama: Subprime lending immoral, not illegal

Obama: “Subprime lending immoral, not illegal” http://ow.ly/6PE2P Today the president took a question from a  reporter who asked him why his administration had failed to file suit or enforcement action against corporate leaders for the 2008 financial crisis that ultimately led to numerous bank, insurance, auto-maker and state bailouts. To that the president replied… “If someone has engaged in fraudulent…

What is Predatory Lending?

Predatory Lending Considerations Subprime lending is not synonymous with predatory lending, and loans with the features described as Subprime are not necessarily predatory in nature. However, institutions should ensure that they do not engage in the types of predatory lending practices discussed in the Expanded Subprime Guidance. Typically, predatory lending involves at least one of…