Final answer:
Predatory lenders engage in exploitative practices by targeting vulnerable individuals, using deceptive tactics, and prioritizing profits over borrower well-being.
Explanation:
Predatory lenders are financial entities that engage in exploitative lending practices, setting them apart from traditional lenders in several key ways:
- They target vulnerable individuals who may not fully understand the terms of the loan, leading to excessive fees and high-interest rates.
- Predatory lenders often use deceptive tactics to lure borrowers into loans they cannot afford, resulting in a cycle of debt.
- Unlike reputable lenders, predatory lenders prioritize profits over the financial well-being of borrowers, contributing to financial instability and economic disparities.
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