What’s a “predatory” lender?
March 3, 2008 | industry, research | Comments (0)From an article on Delaware online Sunday which quotes David K. Musto, a Finance Professor at the University of Pennsylvania’s Wharton school:
”Three market conditions are associated with predatory lending, Musto and his colleagues found: There is little competition among lenders, property owners are sitting on lots of equity and borrowers are poorly informed about risks.”
The payday lending industy doesn’t meet even one of these three criteria. The complete article is below.
https://www.delawareonline.com/apps/pbcs.dll/article?AID=/20080302/BUSINESS/803020380/1003/business
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