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Which of the following statements is TRUE? A. Your very bad payment history with a financial institution will not be considered if you apply to another financial institution for a loan. B. If you missed a payment more than two years ago, it cannot be considered in a loan decision. C. Banks and other lenders share their borrowers' credit history with each other and are likely to know of any loan payments that you have missed. D. People have so many loans it is very unlikely that one bank will know your history with another bank.
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Banks and other lenders share the credit history of their borrowers with each other and are likely to know of any loan payments that you have missed- is the true statement.
Question
Asked 11/18/2014 9:18:22 AM
Updated 4/5/2018 1:25:07 AM
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Banks and other lenders share the credit history of their borrowers with each other and are likely to know of any loan payments that you have missed- is the true statement.
Added 4/5/2018 1:25:07 AM
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Which is the more correct definition of "predatory lending"?
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Updated 11/18/2014 9:41:32 AM
1 Answer/Comment
Predatory lending is the unfair, deceptive, or fraudulent practices of some lenders during the loan origination process.
Added 11/18/2014 9:41:32 AM
This answer has been confirmed as correct and helpful.
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