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Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as ...
The Fair Credit Billing Act (FCBA) is a United States federal law passed during the 93rd United States Congress and enacted on October 28, 1974 as an amendment to the Truth in Lending Act (codified at 15 U.S.C. § 1601 et seq.) and as the third title of the same bill signed into law by President Gerald Ford that also enacted the Equal Credit Opportunity Act.
In legal terminology, a complaint is any formal legal document that sets out the facts and legal reasons (see: cause of action) that the filing party or parties (the plaintiff(s)) believes are sufficient to support a claim against the party or parties against whom the claim is brought (the defendant(s)) that entitles the plaintiff(s) to a remedy (either money damages or injunctive relief).
The acceptance of complaints against clients may help build a defence against complaints addressed to themselves by constructing a joined front, redirecting the blame to the client. Finally, the acceptance of complaints towards competitors serves the function of building rapport with clients to promote further preference for their own institution.
A loan agreement (also known as a lending agreement [1]) is a contract between a borrower and a lender which regulates the mutual promises made by each party.
a student loan; and; an emergency loan. A student loan, for example, could be granted to an unemployed consumer, who might not have a credit record (so that the credit provider does not know his payment history). The consumer might not be creditworthy, and there is no security. The nature of these agreements excludes them from being reckless ...
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. [1] Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied ...
In law, frivolous or vexatious is a term used to challenge a complaint or a legal proceeding being heard as lacking in merit, or to deny, dismiss or strike out any ensuing judicial or non-judicial processes. The term is used in several jurisdictions, such as England & Wales, Ireland and New Zealand.