Wells Fargo, Bank of America Finance Predatory Lenders and Their Outrageous Interest Rates
https://finance.yahoo.com/news/wells-fargo-bank-america-finance-130045005.html
Shows the required UUDP classes everyone has to take are a sham to the executives.
What @fei+1b2LHw35 said. I can tell the other poster must not be a bank employee, or they would be extremely familiar with all the "don't loan money to the Mob! We mean it this time!" training that even the people in ICS are subject to.
Really not surprising remember Wells Fargo's Direct Deposit Advance which allowed someone to borrow against their Direct Deposits made to a checking account at around 20% interest.
@atu+1b2LHw35 learned nothing from 2008.
Since the first ever bank, banks have shown they will lend to anyone willing to pay, no matter how immoral it is, they'll launder money for dictators and dr-g cartels, happily foreclose on active military, and kick your dog on their way out.
@atu+1b2LHw35 are you new to regulated varying? The feds have always scrutinized who banks lend money, whether individuals (OFAC) or organizations that are deemed harmful to the public. Banks at one time could not lend money to mj dispensaries. Ever hear if Operation Choke Point?
Believe it or not, banks aren't responsible for the actions of those they loan money to. Don't like it? Don't borrow money from said lender or lobby for the max interest that can be charged be lowered by law.