Gregoire Warns of Predatory Lending Practices
Olympia - Feb. 5, 2001 - In recognition of National Consumer Protection Week (Feb. 5 -10) Washington state Attorney General Christine Gregoire today warned consumers to beware of predatory lending practices that could threaten their credit ratings and, in some extreme cases, force them from their homes.
"These predatory loans come in all forms - from sub prime mortgage loans and payday advances to car title loans. What they have in common are exorbitant fees, outrageous interest rates and up front costs that take money from those who can least afford the terms," Gregoire said.
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