Predatory lending refers to unfair, deceptive, or fraudulent practices by lenders during the loan origination process. This often involves charging excessively high-interest rates, hidden fees, and terms that trap borrowers in a cycle of debt. These practices disproportionately affect marginalized communities, reinforcing existing economic inequalities and systemic discrimination in financial systems.
congrats on reading the definition of predatory lending. now let's actually learn it.