Approving auto loans with negative equity should result in penalties for banks.
What infuriates me is that banks knowingly approve auto loans with negative equity. It’s a financial trap that drains people’s pockets and wrecks their credit, yet customers are rarely warned about the consequences. This kind of irresponsible lending deserves serious regulatory scrutiny and penalties. I mean, at the first place who the hell decides on how much negative equity is okay at the first place ? When was this regulation approved. I mean, it should be banned.