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Author: United States. Consumer Advisory Council
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 124
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Book Description
Author: United States. Consumer Advisory Council
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 124
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Book Description
Author: Sean H. Vanatta
Publisher: Yale University Press
ISBN: 0300247346
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
How bankers created the modern consumer credit economy and destroyed financial stability in the process American households are awash in expensive credit card debt. But where did all this debt come from? In this history of the rise of postwar American finance, Sean H. Vanatta shows how bankers created our credit card economy and, with it, the indebted nation we know today. America's consumer debt machine was not inevitable. In the years after World War II, state and federal regulations ensured that many Americans enjoyed safe banks and inexpensive credit. Bankers, though, grew restless amid restrictive rules that made profits scarce. They experimented with new services and new technologies. They settled on credit cards, and in the 1960s mailed out reams of high-interest plastic to build a debt industry from scratch. In the 1960s and '70s consumers fought back, using federal and state policy to make credit cards safer and more affordable. But bankers found ways to work around local rules. Beginning in 1980, Citibank and its peers relocated their card plans to South Dakota and Delaware, states with the weakest consumer regulations, creating "on-shore" financial havens and drawing consumers into an exploitative credit economy over which they had little control. We live in the world these bankers made.
Author:
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 164
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Book Description
Author: California. Legislature. Assembly
Publisher:
ISBN:
Category : California
Languages : en
Pages : 2372
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Book Description
Author: Thomas A. Durkin
Publisher: Oxford University Press
ISBN: 0199384967
Category : Business & Economics
Languages : en
Pages : 737
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Book Description
Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit. The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly. After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing. Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans. Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.
Author:
Publisher:
ISBN:
Category : Military art and science
Languages : en
Pages : 966
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Book Description
Author: United States. National Commission on Consumer Finance
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 996
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Book Description
Author: United States. Congress. House. Committee on the District of Columbia
Publisher:
ISBN:
Category :
Languages : en
Pages : 1432
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Book Description
Author: United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 296
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Book Description
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 1298
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Book Description
