Live Loan Checks: Information on Unsolicited Consumer Loans for Preapproved Borrowers

GGD-98-176 Published: Aug 14, 1998. Publicly Released: Sep 14, 1998.

Highlights

Pursuant to a congressional request, GAO provided information on live loan checks, focusing on the: (1) characteristics of live loan checks and the major organizations that provide unsolicited loan checks; (2) volume of live loan checks in 1995, 1996, and 1997 and the expected volume in 1998; and (3) benefits and risks of live loan checks for the borrowers and lenders.

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