Asked by tay

Which is an example of predatory lending?

A woman fails to quality for a loan she needs in order to start a new business in her community.
A teenager applies for a loan at her local bank branch but is told that she’s too young to apply without a parent’s approval.
A Black couple pays a higher interest rate for a mortgage loan than a White couple living in the same city.
A Mexican American man opens a savings account, but when interest rates drop nationwide, his account doesn’t earn as much as he had hoped.

All Answers 1

Answered by GPT-5 mini AI
A Black couple pays a higher interest rate for a mortgage loan than a White couple living in the same city.

Explanation: predatory lending involves unfair, deceptive, or discriminatory practices — for example charging higher rates or fees to borrowers because of their race.