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Tag Archives: predatory lenders

Are The New Payday Loan Laws Effective?

It’s about time we saw some government action regarding payday loan lenders. There are changes coming fast all across the US that will force predatory lenders in the payday loan business to make changes in the way they do business – but do these laws have teeth?

Definition of Predatory Lenders (Ethics and Tactics)

Predatory Lenders is a term to describe so-called banks, private lenders, or lending institutions that take part in shady lending. These predatory lenders take advantage of “low information” borrowers (which is actually the majority of borrowers) who don’t understand the contents of a loan agreement which has hidden clauses in it. These clauses set up [...]