Exact(2)
For example, regulators ordered the consultants to comb through loans to spot whether borrowers were charged fees for lawn care or property inspections that were not "reasonable" and "customary".
For example, regulators ordered the consultants to comb through loans to spot whether borrowers had been charged fees for lawn care or property inspections that were not "reasonable" and "customary".
Similar(58)
Under the terms of the 2011 consent order, 14 banks had to hire independent consultants to analyze millions of loan records to spot any instances in which the banks might have improperly charged fees, denied loan modifications or wrongfully seized homes from borrowers current on their payments or making reduced monthly payments.
The lack of direction, the report found, prevented the consultants from efficiently scouring the loan files to spot the most number of borrowers potentially harmed.
As part of the pact, the bank agreed to comb through each loan file to spot potential errors, a process that the regulators will use to help determine the size of the payouts to homeowners.
The company provided on-the-spot loans to customers of more than 2,000 South African shops.
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The company prided itself on the ability of its proprietary software to spot loans that held the promise of a return from those that were bound to fail.
Any such borrowers are easy to spot, because loan listings clearly note any past Prosper loans taken out by prospective borrowers, including the record of repayments established by the borrower.
Anxiety about loans made by British banks to the euro zone's worst trouble spots has driven up their borrowing costs, in turn making loans to businesses and homeowners more expensive.
Learn how to spot usurious personal loans.
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