Subprime or “Predatory” Consumer Lending in new york

Subprime or “Predatory” Consumer Lending in new york

by Phil Lehman, Assistant Attorney General, NC Department of Justice

The credit marketplace is highly competitive for the average borrower. Home loan prices are posted regular in many magazines, making comparison shopping effortless. There are a number of credit card solutions, including cards without any yearly charges, cards with interest levels pegged into the rate that is prime and differing forms of bonus programs. Automobile funding can be acquired from dealers, banking institutions, and credit unions, with manufacturers usually subsidizing rates that are below-market.

It really is an unusual story for customers with low or irregular incomes, with blemished credit documents, or with restricted training or sophistication that is financial. Continue reading “Subprime or “Predatory” Consumer Lending in new york”