Is Predatory Lending a Crime?

Predatory lending, a scourge on financial integrity, indeed constitutes a criminal offense in principle. When individuals are lured and deceived into acquiring loans burdened with exorbitant fees exceeding their risk assessment or beyond their repayment capacity, the boundaries of legality are breached. Despite the presence of protective legislation aimed at safeguarding consumers from such exploitation, the prevalence of predatory lending persists largely due to a lack of awareness among consumers regarding their entitlements. Thus, perpetrators often evade accountability, perpetuating this systemic issue.