Yes, It's Still Happening

Predatory lending sounds like the kind of thing that went on during those go-go boom years when the real estate sector was like the wild west and low-income Americans were treated as easy prey by companies intent on a quick profit. But predatory lending has always been about much more than deceptive home loans at usurious rates. It describes a whole range of exploitative lending practices, many of which depend on misleading borrowers so they don't know what they are getting into.

The good news is that help is on the way, with the imminent creation of the Consumer Financial Protection Agency and the appointment by President Obama this month of crusader Elizabeth Warren to lead this effort. But it will be a long fight. Greed never rests.