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Unethical Subprime Loans: Impact on Consumers and Society

Dive into the repercussions of unethical subprime lending practices on consumers and society. Explore the loss of property, emotional turmoil, financial instability, and discriminatory targeting of African-American and Latino consumers. Witness the ripple effects that lead to mass layoffs, bankruptcy, homelessness, and the failure of the U.S. financial market.

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Unethical Subprime Loans: Impact on Consumers and Society

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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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