Abstract

Hunting the Predators
Murray, Bobbi | July 15, 2002 issue

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The article focuses on the efforts of certain activists to protect U.S. consumers from predatory lending and the financial institutions that benefit from the practice. Predatory lending victimizes unsuspecting borrowers who become so mired in debt that they become permanent sources of income for lenders. A national direct-action campaign has been launched by the Association of Community Organizations for Reform Now which targets mortgage lender Household Financial Services. Predatory practices involve the addition of extra fees and unnecessary insurance, high prepayment penalties and big payments that require refinancing.

See Also:

PREDATORY lending; HUMAN rights workers; CONSUMER protection; HOUSEHOLD Financial Services (Company); CONSUMERS -- United States; UNITED States
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