[Porsche-O-Phile]

Sorry, hijack not intended. But I don't honestly think there IS anything as "predatory lending". Is anyone holding a gun to these peoples' heads MAKING them sign the paperwork? No. It's done voluntarily and willfully. Sorry, but at some point we need to stop coddling such stupidity and continually "dumbing down" our standards to protect the most indiscriminate and lazy people out there from themselves. . .

Back on topic here:

Judicial "activism" is not something I'm a fan of. I don't really see a way an appellate court could reasonably uphold some kind of class action against lenders unless there was bona fide fraud or misrepresentation and (more importantly) that it can be PROVEN (i.e. more than John & Jane Doe complaining that "they didn't understand", so therefore it must be illegal, right?)

The precedent alone would make it open season for lenders in EVERYTHING. Hell, I'd probably go down the next day and buy that Ferrari 430 that I can't afford. When I can't make the payments, I could just have my lawyer initiate a class-action suit against the finance backers because "I didn't understand" and therefore it must be predatory. . .

This smells rotten.