The banking agencies issued two guidances to caution depository institutions about risks involved in funding non-depository lenders that engage in predatory lending. Predatory and abusive practices include:
A.
High-pressure sales
B.
Excessive fees and interest rate including fees for unnecessary products
C.
Balloon payments that may never cause foreclosures
D.
Excessive refinancing with fees included in the new loan
This option correctly identifies predatory and abusive practices by mentioning excessive fees and interest rates, including fees for unnecessary products, which are often indicators of predatory lending. Predatory lending practices typically involve imposing unfair and abusive loan terms on borrowers, including excessive fees and interest rates that can lead to financial hardship for the borrower.
The company can make a great money and the fees will be higher
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