On Our RadarIn this section called "On Our Radar," Consumer Action shares thought-provoking and informative issues on a variety of topics. You can add your thoughts and comments.
IMPORTANT NOTE: The issues presented in "On Our Radar" and the comments of our guests do not necessarily state or reflect the views of Consumer Action.
Utility customers prime target for predatory loans
Utility customers who pay their bills at the storefronts of ultra-high cost payday lenders are typically the most financially vulnerable targets for predatory loans.
Brokerage held liable in predatory mortgage loans
When investors are held liable for the actions of the companies they fund and the mortgage loans they purchase on the secondary market, it can have a chilling effect on predatory lending practices. In an important recent case, a federal appeals court upheld a lower court decision that Lehman Brothers knowingly participated in fraudulent predatory loans being made to subprime borrowers.
Predatory lending: Its impact on Armed Forces
The Department of the Defense has released a highly anticipated report on "Predatory Lending Practices Directed at Members of the Armed Forces and Their Dependents," which details the harm done to military personnel and their families by the predatory lending establishments clustered around military bases nationwide.
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