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Subprime Loans and Social Responsibility: Action and Reaction

Subprime Loans and Social Responsibility: Action and Reaction. Effects of unethical Lending Practices. Effects on Consumers. Loss of property and income: emotional loss Decreases surrounding p roperty values loss of equity and means to fund retirement, health care and education

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Subprime Loans and Social Responsibility: Action and Reaction

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  1. Subprime Loans and Social Responsibility: Action and Reaction Effects of unethical Lending Practices Effects on Consumers Loss of property and income: emotional loss Decreases surrounding property values loss of equity and means to fund retirement, health care and education Perpetuates African-American and Latino consumers as targets to unethical practices Mass layoffs, bankruptcy, loss of retirement earnings • Homelessness and poverty due to foreclosures • Discrimination • U.S. Financial Market Failiure Center for Responsible Lending. (2014)

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