Subprime

Subprime crisis that put the US financial companies into turmoil was not so good lending practice, which basically aimed at low income or below average credit score consumers. Many lenders including large financial corporations tried to make more money by making hidden charges and costs for subprime mortgage loans which many consumer who signed didn't know about, leading to about 1.3 million foreclosures of housing property which ultimately resulted in housing decline in US.

Subprime mortgage crisis