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FTC Brochure on Predatory Lending
One of the best tools for fighting predatory lending is information. Nothing is as powerful as an informed consumer. FTC offers a Consumer Alert on predatory lending. The brochure offers tips on how to identify predatory lenders and encourages consumers to shop around. There is a helpful list of predatory lender practices (generally in the category of if it is too good to be true, there is something wrong) that can be used for customer advice and education. The brochure also provides advice on how to shop for a loan and use compliance disclosures to get the best deal. The brochure is available on the FTC website at www.ftc.gov. Choose publications and consumer alerts.
Copyright © 2000 Compliance Action. Originally appeared in Compliance Action, Vol. 5, No. 5, 5/00
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