Download or read book A Human Rights Approach to Consumer Credit written by Chrystin D. Ondersma and published by . This book was released on 2018 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: As consumer credit and its attendant problems have exploded around the globe, consumer protection has been the dominant, if not exclusive, framework for mitigating risks to the consumer. Historically, consumer protection work in the consumer credit context has focused on “leveling the playing field” between debtors and creditors by preventing fraud and ensuring proper disclosure. Certain types of loans are now subject to substantive restrictions, such as the new Dodd-Frank regulations requiring mortgage lenders to ensure that borrowers have the ability to repay high cost mortgages. Despite these important advances, some critical gaps remain. Predatory lending continues to be a significant problem. In addition, even in circumstances where there are effective disclosures and absent predatory behavior, consumers can find themselves financially distressed as a result of onerous debt obligations. In particular, the current approach does not effectively address situations in which a debtor's desperation renders her willing to accept credit on whatever terms it is offered.This paper suggests that a human rights framework can provide a complementary overlay to the consumer protection approach to consumer credit. Far from supplanting the consumer protection framework, human rights principles can bolster and complement consumer protection work. Human rights principles can establish a universal floor of protection that prevents a race to the bottom and cannot be circumvented on economic efficiency grounds. I propose a specific example of a consumer credit regulation based on human rights: namely, states should not enforce a consumer credit contract if, at the time of the contract, it was substantially likely that the contract would render the debtor unable to meet his or her basic needs.
Download or read book The Dynamics of the Consumer creditor Relationship written by Caleb Mapatha and published by . This book was released on 2021 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Discrimination Vulnerable Consumers and Financial Inclusion written by Cătălin-Gabriel Stănescu and published by Routledge. This book was released on 2020-12-28 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the questions of discrimination, vulnerable consumers, and financial inclusion in the light of the emerging legal, socioeconomic, and technological challenges. New technologies – such as artificial intelligence-driven consumer credit risk assessment and Fintech platforms, the changing nature of vulnerability due to the ongoing COVID-19 pandemic, as well as the sophistication of digital technologies, which help circumvent legal barriers and protections – necessitate the continuous study of the existing legal frameworks and measures that are capable of tackling these challenges. Organized in two major parts, the first addresses, from multiple national angles, the idea of a human rights approach to consumer law, in order to replace the mantra of economic efficiency that characterizes financial services with those of human dignity and freedom from discrimination and from debt-induced servitude. The second tackles the challenges posed by increased usage of technology in connection with financial services, which tends to solve, but also creates, additional issues for consumers in general, and for vulnerable groups in particular.
Download or read book EU Consumer Law and Human Rights written by Iris Benöhr and published by . This book was released on 2013-10 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the relationship between fundamental rights and consumer law in the EU, this book provides the first comprehensive analysis of the joint implications of the Lisbon Treaty and the Charter of Fundamental Rights. It examines the potential tensions that may emerge between consumer protection objectives and economic, market-oriented goals.
Download or read book A Human Rights Framework for Debt Relief written by Chrystin D. Ondersma and published by . This book was released on 2015 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project begins to answer the question: How might human rights obligations and standards inform lawmaking around the treatment of over-indebted individuals? Recently, policymakers in Europe have articulated a desire to incorporate human rights principles in their responses to consumer over-indebtedness. However, beyond a handful of vague references, there has been no analysis of how human rights principles might inform the treatment of over-indebtedness. This paper analyzes the human rights that are implicated in the treatment of over-indebtedness and discusses how each right can be adequately taken into account in crafting consumer insolvency regimes. In undertaking this analysis, I suggest that a human rights based evaluation of nations' insolvency systems or lack thereof must be contextualized in nations' background rules including 1) the available social safety net, 2) the nature of consumer credit contracts that default laws permit to exist, and 3) permissible collection methods. This project should be useful for two groups: 1) those drafting or proposing legislation addressing consumer over-indebtedness who are members of countries that have undertaken specific human rights obligations, and 2) lawmakers or policymakers who wish their proposed legislation to reflect cognizance of human rights principles even when not obligatory.
Download or read book Nigerian Consumer Credit written by Philemon Iko-Ojo Omede and published by Springer Nature. This book was released on 2022-08-30 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book critically reviews transnational banking regulations that specifically impact consumer lending in Africa's largest economy. It provides a comprehensive analysis on the politics and economics of financial sector consolidation in an emerging market in West Africa, also covering law, consumer credit, and consumer policy along with a discussion of banking sector reforms heavily influenced by the neoliberal economics paradigm. There have been several developments since the publication of the existing books especially in the area of regulatory theory and social protection that are captured in this book, which will be of interest to researchers, students, and scholars of banking regulation, development economics, and international finance.
Download or read book Getting By written by Helen Hershkoff and published by Oxford University Press. This book was released on 2019-10-29 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Getting By offers an integrated, critical account of the federal laws and programs that most directly affect poor and low-income people in the United States-the unemployed, the underemployed, and the low-wage employed, whether working in or outside the home. The central aim is to provide a resource for individuals and groups trying to access benefits, secure rights and protections, and mobilize for economic justice. The topics covered include cash assistance, employment and labor rights, food assistance, health care, education, consumer and banking law, housing assistance, rights in public places, access to justice, and voting rights. This comprehensive volume is appropriate for law school and undergraduate courses, and is a vital resource for policy makers, journalists, and others interested in social welfare policy in the United States.
Download or read book Consumer Credit and the American Economy written by Thomas A. Durkin and published by . This book was released on 2014 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book EU Consumer Law and Human Rights written by Iris Benöhr and published by OUP Oxford. This book was released on 2013-12-19 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, consumer law has played an instrumental role in the EU as a tool for market integration. There are now signs in the new EU legal framework and jurisprudence that this may be changing. The Lisbon Treaty contains provisions affecting consumer law and, at the same time, it grants binding legal force to the EU Charter, which in turn adds a fundamental rights dimension to consumer protection. This evolution, however, is still at an early stage and may be thwarted by conflicting trends. Moreover, it may generate tensions between social objectives and economic goals. This book provides the first comprehensive analysis of these developments and examines new avenues that may be opening for consumer law, focusing on three key areas: financial services, electronic communication and access to justice. Through a systematic analysis of relevant cases, the book traces the development of a human rights dimension in consumer law and details the ramifications that the post-Lisbon legal framework may have on consumer protection and policy. This book concludes by proposing new directions in consumer law, striking a compromise between social and economic demands.
Download or read book Artificial Intelligence Law written by Jan De Bruyne and published by KU Leuven Centre for IT & IP Law Series. This book was released on 2022-06 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this comprehensive book, scholars critically examine how AI systems may impact Belgian law. While specific topics of Belgian private and public law are thoroughly addressed, the book also provides a general overview of a number of regulatory and ethical AI evolutions and tendencies in the European Union. In this second edition various chapters have been updated to reflect recent developments in the field. Two chapters covering media law and competition law have also been added.
Download or read book Consumer and SME Credit Law written by Nora Beausang and published by Bloomsbury Publishing. This book was released on 2021-12-16 with total page 2649 pages. Available in PDF, EPUB and Kindle. Book excerpt: With 2000+ pages of guidance, this important new textbook provides an extensive and in-depth guide to the current labyrinthine regulatory regime relating to consumer and SME credit (by way of cash loans) and protection generally, including the Consumer Protection Code, the Consumer Credit Act (housing loans and non-housing loans), the EU Consumer Credit Regulations, the EU Mortgage Credit Regulations and the Central Bank Housing Loan Regulations. Other lending-related conduct of business requirements are also covered in detail, including the Code of Conduct on Mortgage Arrears, the Lending to SME Regulations, the Code on Related Parties Lending and the Credit Reporting Act, together with applicable EBA/ECB Guidelines dealing with loan origination, product oversight and governance, non-performing exposures/loans and arrears. The regulated activities triggering authorisation as a retail credit firm or credit servicing firm are also addressed in detail. The book additionally extends beyond lending to have application to the wider business of regulated firms in the financial services arena, dealing in detail with issues including the general principles and requirements of the Consumer Protection Code,the fitness and probity regime including the area of minimum competency, distance marketing requirements and other background to the regulatory regime in Ireland including the increased regulatory focus on the culture of regulated firms and product oversight and governance. The available redress/recourse mechanisms are also covered, including the Financial Services and Pensions Ombudsman, the Credit Review Office, the regulatory and other consequences of breach of applicable requirements and the significant risk management area for regulated firms of their customers' statutory right to redress on breach of financial services legislation. In addition, the book has relevance to professionals dealing with consumers in any contractual context including extensive treatment of how the concept of 'consumer' has developed under common law, the unfair commercial practices regime and the increasingly topical area of unfair contract terms legislation. Relevant case law of the Irish courts and other common law jurisdictions, together with an expanding corpus of decisions from the CJEU, are addressed in detail. This book's practical style is designed to assist bankers, other regulated firms, lawyers, compliance professionals and regulators in the application of a complex area. Rather than simply setting out the separate requirements, the book seeks to navigate the at times contradictory legislative and regulatory strands to give (in so far as is possible) a coherent sense of how they integrate. Much of the content is unique and cannot be found in any other publication. An essential addition to the library of every lender, practitioner and compliance and regulatory risk professional, particularly in the areas of consumer and SME credit.
Download or read book Consumer Credit Models written by Lyn C. Thomas and published by OUP Oxford. This book was released on 2009-01-29 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of credit scoring - the quantitative and statistical techniques to assess the credit risks involved in lending to consumers - has been one of the most successful if unsung applications of mathematics in business for the last fifty years. Now with lenders changing their objectives from minimising defaults to maximising profits, the saturation of the consumer credit market allowing borrowers to be more discriminating in their choice of which loans, mortgages and credit cards to use, and the Basel Accord banking regulations raising the profile of credit scoring within banks there are a number of challenges that require new models that use credit scores as inputs and extensions of the ideas in credit scoring. This book reviews the current methodology and measures used in credit scoring and then looks at the models that can be used to address these new challenges. The first chapter describes what a credit score is and how a scorecard is built which gives credit scores and models how the score is used in the lending decision. The second chapter describes the different ways the quality of a scorecard can be measured and points out how some of these measure the discrimination of the score, some the probability prediction of the score, and some the categorical predictions that are made using the score. The remaining three chapters address how to use risk and response scoring to model the new problems in consumer lending. Chapter three looks at models that assist in deciding how to vary the loan terms made to different potential borrowers depending on their individual characteristics. Risk based pricing is the most common approach being introduced. Chapter four describes how one can use Markov chains and survival analysis to model the dynamics of a borrower's repayment and ordering behaviour . These models allow one to make decisions that maximise the profitability of the borrower to the lender and can be considered as part of a customer relationship management strategy. The last chapter looks at how the new banking regulations in the Basel Accord apply to consumer lending. It develops models that show how they will change the operating decisions used in consumer lending and how their need for stress testing requires the development of new models to assess the credit risk of portfolios of consumer loans rather than a models of the credit risks of individual loans.
Download or read book Riegle Community Development and Regulatory Improvement Act of 1994 written by United States and published by . This book was released on 1994 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Rights Translated written by Castan Centre for Human Rights Law and published by United Nations Publications. This book was released on 2008 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The purpose of this publication is to contribute to [the] process of clarification by explaining universally recognised human rights in a way that makes sense to business. The publication also aims to illustrate, through the use of case studies and actions, how human rights are relevant in a corporate context and how human rights issues can be managed."--Introduction, p. vii.
Download or read book Human Rights and World Public Order written by Myres Smith McDougal and published by . This book was released on 2019 with total page 1137 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a classic text of the New Haven School of International Law, this book explores human rights and international law in the broadest sense, taking into account social sciences research while embracing all values secured, or consequently fulfilled, or needed to thus be achieved. The re-issuance of this venerable title, unveils this work to a new generation of scholars, students, and practitioners of international law and human rights.
Download or read book Complying with the telemarketing sales rule written by and published by . This book was released on 2004 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financing the American Dream written by Lendol Calder and published by Princeton University Press. This book was released on 2009-07-01 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Once there was a golden age of American thrift, when citizens lived sensibly within their means and worked hard to stay out of debt. The growing availability of credit in this century, however, has brought those days to an end--undermining traditional moral virtues such as prudence, diligence, and the delay of gratification while encouraging reckless consumerism. Or so we commonly believe. In this engaging and thought-provoking book, Lendol Calder shows that this conception of the past is in fact a myth. Calder presents the first book-length social and cultural history of the rise of consumer credit in America. He focuses on the years between 1890 and 1940, when the legal, institutional, and moral bases of today's consumer credit were established, and in an epilogue takes the story up to the present. He draws on a wide variety of sources--including personal diaries and letters, government and business records, newspapers, advertisements, movies, and the words of such figures as Benjamin Franklin, Mark Twain, and P. T. Barnum--to show that debt has always been with us. He vigorously challenges the idea that consumer credit has eroded traditional values. Instead, he argues, monthly payments have imposed strict, externally reinforced disciplines on consumers, making the culture of consumption less a playground for hedonists than an extension of what Max Weber called the "iron cage" of disciplined rationality and hard work. Throughout, Calder keeps in clear view the human face of credit relations. He re-creates the Dickensian world of nineteenth-century pawnbrokers, takes us into the dingy backstairs offices of loan sharks, into small-town shops and New York department stores, and explains who resorted to which types of credit and why. He also traces the evolving moral status of consumer credit, showing how it changed from a widespread but morally dubious practice into an almost universal and generally accepted practice by World War II. Combining clear, rigorous arguments with a colorful, narrative style, Financing the American Dream will attract a wide range of academic and general readers and change how we understand one of the most important and overlooked aspects of American social and economic life.
