Credit Card and Debt Statistics Database
by Scott Bilker |
Predatory Lending Costs Totals |
The Coalition for Responsible Lending estimated an annual cost to U.S. borrowers of $9.1 billion, including $2.1 billion for credit insurance, $1.8 billion for up-front fees, $2.3 billion for prepayment penalties and $2.9 billion for excess interest rates over what borrowers should be charged based on their credit histories. |
|
Categories: |
Finances,Predatory Lending |
|
Reporting Pub: |
The New York Times Online |
|
Reporting Date: |
7/25/2001 |
|
Article
Title: |
High-Cost Home Loans Estimated |
|
Article
Author: |
Associated Press |
|
Pub's Source: |
|
|
Source
URL: |
|
|
|
|