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Predatory lending practices may include deceptive, misleading, unethical or abusive tactics that create unfair terms for...

Predatory lending practices may include deceptive, misleading, unethical or abusive tactics that create unfair terms for you. Which of the following is not considered a predatory lending practice?

  1. High pressure sales
  2. Steering
  3. Padding costs and fees
  4. Charging fees
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Answer #1

Charging fees is not predatory lending practice

Explanation:-Charging high fees or fees in excess is predatory lending practice ,if lender charges normal fees which are charged by lending organization then it is not predatory lending practice.

As we know that predatory lending means unethical or wrong tactics used by lending organization to originate loan to borrowers. In this lending .mainly those borrowers are targeted who are in urgent requirement of loan .It includes various practices which involves steering and targeting in which borrowers are intentionally guided to accept unfavourable loan terms ,padding cost and fees in which some fees or costs are hided from borrower any and high pressrure by lending organization to borrowers for buying loan products

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Answer #2
High pressure sale
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