Record #:

4515

Author(s):

Bullard, Anne

Abstract:

Predatory lending, or loaning money for home loans based on unethical lending standards, has gotten some North Carolina citizens deeply in debt. An example is 89-year-old Dezell Wiley, whose home was debt-free, but now finds herself $70,000 in debt. In 1999, the General Assembly passed a law which is considered one of the most aggressive in the country in regulating this unethical practice.

Source:

North Carolina Insight (NoCar JK 4101 N3x), Vol. 18 Issue 4, Feb 2000, p30-43

Subject(s):

Loans--Law and legislation