Quotes About Predatory lending

States used to protect consumers from predatory lenders, but strong state usury laws were obliterated by a 1978 U.S. Supreme Court decision.

Man was lost if he went to a usurer, for the interest ran faster than a tiger upon him.

Why don't we call on the credit card companies to be accountable? They need to be held accountable for their predatory lending practices.

Groups that work in black neighborhoods around the country have contended that much of subprime lending is 'predatory lending.'

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The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing.

We also must pull from our highest ideals of justice and protect against those ills that destabilized our economy - like predatory lending, over-leveraged financial institutions and the unchecked avarice of the past that trumped fairness and common sense. Our platform calls for significant cuts in federal spending.

Our servicemembers are focused every day on serving our country. It's our job to ensure that they have everything they need to do their jobs to the best of their ability. That must include effective consumer protections against predatory lending, already afforded under the Military Lending Act, for our men and women in uniform and their families.

After holding hearings to get input from Missourians, I led the fight to pass legislation that protects seniors from predatory lending in the mortgage industry. I stood up against efforts that would make it harder for seniors to vote, and battled telemarketers bent on defrauding seniors.

The aim of predatory lending in much of the world is to obtain labor to work off debts (debt peonage), to foreclose on the land of debtors, and in modern times to force debt-strapped governments to privatize natural resources and public infrastructure.

What about our looming financial crises? Innovation can solve many problems, but it won't erase unsustainable debt. We have borrowed our way to prosperity with no exit strategy. Loans secured with home equity and other assets lifted consumption in the 2000s as income growth slowed. Dimming prospects of repayment did not deter lenders who preyed on increasingly desperate consumers and homeowners. Behavior that fueled the 2008 financial bubble and bust will persist, but on steroids.