Predatory lending

Predatory loans

Wikipedia, July 20, 2010 ("Predatory lending describes unfair, deceptive, or fraudulent practices of some lenders during the loan origination process. While there are no legal definitions in the United States for predatory lending, an audit report on predatory lending from the office of inspector general of the FDIC broadly defines predatory lending as 'imposing unfair and abusive loan terms on borrowers' ... One less contentious definition of the term is "the practice of a lender deceptively convincing borrowers to agree to unfair and abusive loan terms, or systematically violating those terms in ways that make it difficult for the borrower to defend against." 2 Other types of lending sometimes also referred to as predatory include payday loans, credit cards or other forms of consumer debt, and overdraft loans, when the interest rates are considered unreasonably high.)
Investopedia.com Web site, July 20, 2010 ("Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, strips the borrower of equity, or places the borrower in a lower credit rated loan to the benefit of the lender.")
HUD Web site, July 20, 2010 (predatory lending)
Google search, July 20, 2010 (predatory lending; predatory loans)
LC database, July 20, 2010 (predatory lending)