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The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen Litigation Group, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

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Wednesday, January 23, 2019

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Edwin Bell

Unfortunately for many Americans borrowing money to survive is mandatory. Allowing lenders to prey on the weakest people in society only makes many in our nation more vulnerable to either a financial collapse, bankruptcy, and even homelessness. The FDIC knows citizens are being destroyed by predatory behavior by lenders. Most Americans who default on these predatory loan are attacked soon after by malicious or belligerent attorneys who add significant charges and fees to an already outrageously high repayment amount charged to disadvantaged borrowers. Government agencies must do their morally responsible duty and change or eliminate this type of corrupt predatory lending forever.

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