“You often are stuck with the only lenders you can find, and they can be bad actors,” said Jason van den Brand. “How do you get to a point where everyone gets a fair shake?”
Predatory lending, by and large, sets up borrowers for failure, deceptively targeting the most vulnerable such as those in underserved communities, low-wage earners, women who are heads of households, the elderly, and Americans with little to no formal education. These borrowers have historically been burdened with significantly higher rates and hidden fees.