Do consumer laws protect against predatory lending?

Yes, consumer laws in Delaware protect against predatory lending. Predatory lending is a form of abusive lending practice in which a lender exploits a borrower’s lack of knowledge or resources to take advantage of them. Predatory lenders often charge high rates of interest, fees, or predatory loan terms. The Delaware Small Loan Act protects borrowers from a range of predatory lending practices. It places a limit on the interest rate that lenders can charge and requires lenders to provide clear disclosure of the costs of the loan so that borrowers can make informed decisions. In addition, the Delaware Homeowner’s Bill of Rights Act prohibits lenders from engaging in certain unfair and deceptive practices in the origination, servicing, and foreclosure of consumer loans. This protects borrowers from unfair lending practices, such as charging fees or interest rates that are higher than what is legally allowed, or not providing clear disclosure of loan terms. By providing these protections, consumer laws in Delaware protect borrowers from predatory lending.

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Do consumer laws protect against predatory lending?

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