Our neighbors were getting hit with hidden fees and frauds when they took out a mortgage, when they used a credit card. If they were just paying for school, there was no cop on the beat. The result? By 2008, years of this shady, abusive practice helped spark a devastating global financial crisis. Six million households lost their homes to foreclosure. A quarter of our families lost 75% of their wealth. Americans lost faith in our financial system. (01:38–01:49)
CLAIM
Asserts that abusive financial practices contributed to the 2008 global financial crisis.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
