Consumer Title Loans, Made in Exchange for Title to a Car

question 46

True/False

Consumer title loans, made in exchange for title to a car if the borrower defaults, are also called predatory loans and are illegal per se.

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Definitions:

SNAP

The Supplemental Nutrition Assistance Program, a federal aid program providing food-purchasing assistance for low- and no-income people in the U.S.

Income Mobility

The extent to which individuals or households can move up or down the income distribution ladder within a society over time.

Wealth Inequality

The unequal distribution of assets among a population.

Income Quintile

A statistical measure dividing the population into five equal groups based on income levels, to analyze economic inequality.