Emigrant Bank’s predatory lending loss upheld by Supreme Court
By: Sarah Wolak | Published: 2026-02-03 16:43:08 | Source: www.housingwire.com
The loans carried an automatic 18% default interest rate that was triggered after a single missed payment, significantly increasing monthly obligations and leading many borrowers toward foreclosure or forced sales.
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Jurors found that Emigrant disproportionately marketed the loans to Black and Latino homeowners in New York City. The 2016 verdict marked the first time a jury held a bank…
