Elizabeth Warren: Block Bankruptcy Exit

Posted by admin on Sunday, January 17, 2016

Elizabeth Warren Money Quotation saying banks extended loans to those in financial straights to charge higher rates and fees than they could afford, while avoiding bankruptcy. Elizabeth Warren said:

The bankers … strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads
— Elizabeth Warren

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