Request for Question Clarification by
pafalafa-ga
on
06 Jan 2005 19:02 PST
There have been a few major predatory lending cases, particularly
those against Citigroup, Household International, and First Alliance
Mortgage, all of whom paid whopping settlements with the government.
But I have to agree with cynthia-ga's comment, below. Probably every
mortgage lender in the business has, at one time or another, been
"accused" in some fashion of predatory lending, even though the term
is not well defined, which makes it hard to pinpoint who is or isn't
practicing predatory lending.
Furthermore, there are so many federal and state oversight agencies
for banking practices -- along with suits from private citizens --
that trying to compile a comprehensive list of court cases is a very
daunting task.
I've located a list of about 20 actions taken by the FTC against banks
pertaining to predatory lending, but that's the most complete list
I've found thus far...and hardly "comprehensive".
Any chance you could provide a bit more focus to your question, to
give it a more realistic chance of being answered?
Thanks,
pafalafa-ga