The subprime mortgage lending market has proved a breeding ground for unscrupulous lenders who prey on the financially unsophisticated. Victims of these scam artists may get some relief when New York's first predatory lending law takes effect, but the investment community is up in arms over the law's provision permitting borrowers to sue assignees.
Predatory Lending Law Upsets Investment Firms
New York Law Journal
March 28, 2003