The Largest Predatory Lender in America

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  1. decimon

    decimon Well-Known Member

    The Weekly Standard
    Kevin Cochrane
    Sept. 29, 2016

    What would you think of a lender that has holds more than one $1 trillion in loans outstanding, targets low income and minority borrowers, has a payment delinquency and default rate in excess of 25 percent, and has postponed repayment on 14 percent of its loans, but is still accruing interest on them? Wouldn't you think that some government agency—say, the Consumer Financial Protection Bureau, the Federal Reserve, or even Congress—would be investigating this perfect definition of a predatory lender and trying to shut it down?

    Well, that hasn't exactly happened. Why? Because this predatory lender is the federal government.

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