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In a followup to an article discussed previously here on SoylentNews:
Bloomberg has a three-part series on the use of an obscure legal document that unscrupulous lenders are using against small businesses.
- In Part 1 - I Hereby Confess Judgement, (the part discussed earlier on SoylentNews,) they go into detail on what the predatory lenders are doing to small businesses using a document known as a "Confession of Judgement" to extract court wins from small businesses without a trial.
- In Part 2 - The $1.7 Million Man, they go into how a debt collector became NYC's top earning official.
- In Part 3 - Rubber Stamp Justice, the article describes how the courts are involved, and what some of them are doing to prevent this abuse.
After the story was released on Bloomberg, the New York State Attorney General's office opened a formal investigation last month.
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Predatory Lending is Crushing Small Businesses (continued)
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* m2 stares at the monitor... it looks like a hamburger...
m2 - that's a bad sign
(Score: 1) by nitehawk214 on Tuesday December 04 2018, @05:46PM
Lol, no. They would simply bribe the politicians to give themselves the power to hand out rent.
"Don't you ever miss the days when you used to be nostalgic?" -Loiosh