Unfair Banking Practices

Banks should be scrutinized

Unfair Banking and Lending Practices

Home owners at risk of losing their homes may now have an avenue of recourse. Lisa Beth Older, a New York Attorney, will perform an in-depth constitutional analysis of present bank lending practices which will be offered as a basis for a proposed Congressional review. Victims of lending abuses are invited to join in the submission of a brief one-page complaint addressed to Lisa Beth Older, Esq. so that an assessment can be made as to whether or not the latest lending policies are widespread, whether they intentionally violate anti-trust laws, whether the constitutional rights of individual consumers in the free market place have been violated, and whether or not legislative or judicial intervention is warranted.

“The housing crisis is caused in large part by predatory banking practices.” The government is planning on bailing out the very institutions that caused the home foreclosure crisis without similarly bailing out victimized home owners suffering from unduly high interest rates. These suspect loan practices use unfair or fraudulent loan criteria to deny credit to the credit-worthy. The lending practices currently being reviewed involve refusal of lending institutions to provide pre-existing borrowers with the same interest rate currently offer to new borrowers. The current high paying borrowers were lured into low flexible variable rate loans, and were verbally promised lock-in rates if rates increased. After the rates increased exponentially, borrowers locked in their loans at significantly higher fixed interest rates relying upon the lender’s promise that once interest rates declined again they could always convert their loan back to an adjustable variable rate.