WHAT IS PREDATORY LENDING AND HOW DOES IT
lenders are irresponsible lenders that lure people into loans
with outrageous rates and fees and misleading terms. These lenders
prey on low-income individuals, primarily women, the elderly,
African Americans and other minorities.
The result: many people lose their homes and savings, and wealth
is stripped from the communities that can least afford to lose
it. These irresponsible lenders often make extraordinary profits
at the expense of their victims.
Community Investing is a positive alternative
to these harmful predatory lending practices. Community Investing
Institutions are responsible lenders and financial institutions
committed to real community development.
Take action to end predatory lending at Citigroup's
most recent acquisition, Associates First Capital. Find out
why community groups across the country are concerned about
the Associates' lending practices. Use your voice as an investor,
customer, or concerned citizen to speak out. Go to www.tellcitibank.org.
For more information about community investing
and how you can get involved, go to the How
to become a Community Investor.