Lending Practices Quotes

A banker is somebody who lends you an umbrella & takes it away as soon as it starts raining.

Congressman Frank and Senator Dodd wanted the government to push financial institutions to lend to people they would not lend to otherwise, because of the risk of default. ... The idea that politicians can assess risks better than people who have spent their whole careers assessing risks should have been so obviously absurd that no one would take it seriously.

A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.

God did not say that you should be able to borrow one hundred percent of the price of a house.

Never ask for small loans.

What you want to watch are the lenders, not the borrowers. The borrowers will always be willing to take a great deal for themselves. It's up to the lenders to show restraint, and when they lose it, watch out.

A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.

The Question to be considered is, Whether the Government have reason by a Law, to prohibit the taking more than 4 l. per cent Interest for Money lent, or to leave the Borrower and Lender to make their own Bargains.

Washington continues to encourage ever more ill-considered lending in a misguided attempt to stave off needed market corrections. The currently proposed combination of a nationwide infrastructure spending orgy plus tax-cut bribes does nothing to remedy that.

Why don't we call on the credit card companies to be accountable? They need to be held accountable for their predatory lending practices.

We've got to make greedy banks pass on interest rate cuts in full, and we've got to see rents coming down.

Subprime lending is growing faster in black areas than in white areas.

To speake of an Vsurer at the table marres the wine.

The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing.

Lenders, including major credit companies as well as payday lenders, have taken over the traditional role of the street-corner loan shark, charging the poor insanely high rates of interest.

Our approach to banking is very different from the traditional banks or even some of the new banks. We do not necessarily go out and write single-cheque, large-ticket loans.

Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.

The recovery of the banks is what happens when you reduce competition, lend money to them at zero interest rates, allow them to gamble. That particular style of restoration actually inhibits the economic recovery.

Banks were once places to hold money and were very careful in lending to finance families as they built a future - bought homes, bought cars, took out student loans.

There can be no such thing as usury: for what rate of interest is there that can naturally be more proper than another? what natural fixed price can there be for the use of money more than for the use of any other thing? Were it not then for custom, usury, considered in a moral view, would not then so much as admit of a definition…. Putting money out at interest, is exchanging present money for future: but why a policy, which, as applied to exchanges in general, would be generally deemed absurd and mischievous, should be deemed necessary in the instance of this particular kind of exchange, mankind are as yet to learn.

It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans.

Country banks are more flexible in their lending policies than their city brethren are.

If the legal rate of interest in Great Britain, for example, was fixed so high as eight or ten per cent. the greater part of the money which was to be lent, would be lent to prodigals and projectors, who alone would be willing to give this high interest. Sober people, who will give for the use of money no more than a part of what they are likely to make by the use of it, would not venture into the competition. A great part of the capital of the country would thus be kept out of the hands which were most likely to make a profitable and advantageous use of it, and thrown into those which were most likely to waste and destroy it. Where the legal interest, on the contrary, is fixed but a very little above the lowest market rate, sober people are universally preferred as borrowers, to prodigals and projectors. The person who lends money, gets nearly as much interest from the former, as he dares to take from the latter, and his money is much safer in the hands of the one set of people than in those of the other.

The Bank of England should lend in times of internal panic as freely and readily as plain principles of banking require.

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.