American Predatory Lending and the Global Financial Crisis is a multi-method interdisciplinary team working under the Bass Connections project within Duke University. Over the past two years, this student-faculty undertaking has explored the state-level dynamics leading up to the 2008 Crisis.
Ed Boltz recounts his career advising consumers facing bankruptcy in the Raleigh-Durham area. He highlights that the process to obtain loan modifications during the financial crisis was opaque, time consuming, and difficult to navigate. Boltz discusses the influence of anti-predatory lending policies, especially within North Carolina. Boltz also describes his frustrations in helping his clients seeking redress for their loans. While serving as President of the National Association of Consumer Bankruptcy Attorneys, Boltz explains, he worked to advocate for his clients at the federal level, and specifically discusses his views on the 2005 Bankruptcy Reform Act. Boltz also notes the increased number of middle-class suburban individuals being impacted by bankruptcy, and how that had particular long-term impacts on the lending environment in North Carolina. Boltz concludes by discussing the more restrictive lending terms that now exist in North Carolina.
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