Why Your Bank or Used Car Dealer Has You Under Surveillance

NEW YORK (MainStreet) -- The grainy black and white surveillance video of the abduction of a nursing assistant from a Philadelphia street last week shocked viewers. The swift arrest of a suspect was a surprising relief in a world where so many violent crimes seem to go unsolved. And the manner in which the suspect was located was also a surprise to many of us: a GPS device planted on the alleged perpetrator's car by a cautious lender.

The report brought to light an often surreptitious and perhaps little-known practice of those who cater to so-called "risky" borrowers. Lenders who cater to "subprime" customers -- those with below-average credit scores, poor payment histories or low-income job histories -- have been tracking the whereabouts of customers, often without their knowledge.

Car dealers and lenders are especially prone to utilize such surveillance measures.

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