responsible lender
[/rɪˈspɒnsəbəl ˈlɛndər/]
nounpl: responsible lenders
credor responsável
1. A lender who follows ethical lending practices, conducts proper credit assessments, and ensures borrowers can afford repayment without financial hardship
A responsible lender will verify the borrower's income before approving a mortgage.
Um credor responsável verificará a renda do mutuário antes de aprovar uma hipoteca.
2. A financial institution that complies with consumer protection laws and regulations governing lending practices
Responsible lenders must disclose all terms and conditions clearly to borrowers.
Os credores responsáveis devem divulgar todos os termos e condições claramente aos mutuários.
3. A lender that avoids predatory lending practices and prioritizes borrower welfare over profit maximization
Banks strive to be responsible lenders by offering fair interest rates and flexible repayment options.
Os bancos se esforçam para ser credores responsáveis oferecendo taxas de juros justas e opções de reembolso flexíveis.
In Brazil, the concept of 'responsible lending' gained prominence following financial regulations like the Código de Defesa do Consumidor (Consumer Protection Code). In the USA, responsible lending became a key regulatory focus after the 2008 financial crisis, with emphasis on protecting borrowers from predatory practices. Financial institutions now market themselves as 'responsible lenders' to build consumer trust and comply with regulations like Dodd-Frank Act in the US and similar consumer protection laws in Brazil.
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