Don't Get Taken Every Time by Remar Sutton

Author:Remar Sutton
Language: eng
Format: epub, mobi
Publisher: Penguin USA, Inc.

5. Brand-Name Prime Banks

Brand-name prime banks, such as Chase, Bank of America, or Citibank, are morphing into odd creatures. As we’ll see in a bit, some of them are in bed with some of the toughest people in the auto business, financial services, and e-commerce. Many of these same prime banks have also become as aggressive and deceptive in their loan practices as the worst of them—particularly in their subprime loan area. That’s right—the blue-chip banks, keeping up with the captive finance sources such as Ford Motor Credit, are leading the way in making subprime lending “respectable.” They are not, as we’ll see in the subprime section, leading the way in lowering rip-off subprime rates, however.

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