FDIC Launches Small Business Lending SurveyClozel, Lalita
◆Convenience and needs of the community: The proposal specifies that the application must demonstrate that the resulting institution would ”better meet” the convenience and needs of the community than the applicants would separately, such as through higher lending limits, greater access to prod...
Subprime lending thus represented a lucrative investment for many banks. Accordingly, many banks aggressively marketed subprime loans to customers with poor credit or few assets, knowing that those borrowers could not afford to repay the loans and often misleading them about the risks involved. As a...