The Predatory Lending Scheme Destroying American Lives
- rkutsal
- Mar 20, 2019
- 1 min read
By Bloomberg Storylines March 21, 2019
If you're running a small business in America and you need to borrow money, you may be forced to sign a "confession of judgment" - an obscure legal document that gives your lender the right to seize your assets with no trial or advance warning. Bloomberg reporters Zeke Faux and Zachary Mider investigate how this practice is bankrupting businesses and ruining lives.
(Video by Alan Jefferies, Victoria Blackburne-Daniell. Graphics by Christian Capestany) (Source: Bloomberg)