Examples of Predatory Lending
Common examples of predatory lending include charging excessive fees without clear disclosure, steering qualified borrowers into higher-cost loans, falsifying income information, pressuring borrowers to refinance repeatedly to generate fees ("loan flipping"), or adding unnecessary products without consent.
Predatory practices are illegal because they harm consumers and undermine trust in the lending system. Borrowers should always receive clear explanations, transparent pricing, and time to review documents before making decisions.
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