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Analysis of Predatory Lending in New York: From Origins to Interviews
| Date: | Aug 24, 2020 |
| Author(s): | Ryan Aguilar, Milena Saakyan |
| Topic(s): | Economic Development: Economic Conditions |
| Type: | Report |
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Certain legal procedures and policies have given headway for predatory lenders to become prominent and sustained. A short history, description of the New York circumstance, and analysis of CMG Services are delivered in this brief. Interviews of financial service providers were also conducted noting some of the effects of Covid-19 on predatory lending.
This series on Predatory Lending was undertaken by Ryan Aguilar and Milena Saakyan for Westminster Economic Development Initiative (WEDI) while completing Cornell High Road Fellowships in Summer 2020. This collection aims to expose the deceptive practices of predatory lenders which disproportionately impacts people of low income and minority status as well as highlight the counter measures that Community Development Financial Institutions (CDFIs) take to ensure equitable lending.
Resources include:
Repudiated: “Unbankable” Business Owners
Predatory Lenders: Avoiding Scams and Unethical Lending Practices
CDFI Ecosystems and Alternate Forms of Lending
Analysis of Predatory Lending in New York: From Origins to Interviews
Community Development Financial Institutions vs. Predatory Lending in Buffalo, NY