What an astonishing scandal this is!

No lender sues more of its customers than Capital One, according to ProPublica’s review of state court data.

Really?

The bank has only the fourth largest credit card portfolio as measured by both numbers of cardholders and balance size, but such a large portion of its cards are held by those with poor credit that it is the country’s largest subprime lender.

Country’s largest subprime lender sues more debtors than other lenders.

Seriously a shock, isn’t it?

3 comments on “What an astonishing scandal this is!

  1. Some years ago my fathers buisness was approached by one of the companies that specialised in giving loans to people who failed normal credit checks and couldn’t get loans.
    He decided that the target group of customers would fall into 2 types

    1. People he didn’t want to do business with, more trouble than they were worth and
    2. People who genuinely needed help

    Evaluating the scheme he couldn’t see how recommending it to the second group would actually help them with the rates being charged etc. so declined their incentives to advertise/recommend them.
    Always said part of standing by your reputation meant being careful about who you dealt with for sales and supply.

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