Download or read book Consumer Vulnerability and Welfare in Mortgage Contracts written by Irina Domurath and published by Bloomsbury Publishing. This book was released on 2017-11-30 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book advocates a new way of thinking about mortgage contracts. This claim is based on the assumption that we currently live in a political economy in which consumer debt fulfils a social function. In the field of housing this is evidenced by the expansion of mortgage credit through which consumers are to purchase residential property as a means of social inclusion and personal welfare. It is suggested that contract law needs to adjust to this new social function in order to avoid welfare losses in terms of default, over-indebtedness, and possibly eviction. To this end, this book analyses theoretical contract law frameworks and makes concrete proposals for contract law in the EU legal order.

Download or read book Consumer Vulnerability and Welfare in Mortgage Contracts written by Irina Domurath and published by Bloomsbury Publishing. This book was released on 2017-11-30 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book advocates a new way of thinking about mortgage contracts. This claim is based on the assumption that we currently live in a political economy in which consumer debt fulfils a social function. In the field of housing this is evidenced by the expansion of mortgage credit through which consumers are to purchase residential property as a means of social inclusion and personal welfare. It is suggested that contract law needs to adjust to this new social function in order to avoid welfare losses in terms of default, over-indebtedness, and possibly eviction. To this end, this book analyses theoretical contract law frameworks and makes concrete proposals for contract law in the EU legal order.

Download or read book Do Product Bans Help Consumers Questioning the Economic Foundations of Dodd Frank Mortgage Regulation written by Jason Scott Johnston and published by . This book was released on 2015 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The system of residential mortgage contact regulation enacted by the 2010 Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 has been justified as necessary to prevent lenders from exploiting consumer misperception and impatience through the sale of complex mortgage contracts with back-loaded or postponed charges, fees and penalties. Among other things, Dodd Frank creates a regulatory regime under which complex mortgages are penalized, amounting to de facto regulatory restrictions on such contracts. While behavioral law and economics scholars and regulatory practitioners have criticized complex mortgages as exploiting consumer misperception and impatience, such scholars and practitioners have neither advocated nor rigorously analyzed the costs of Dodd Frank style contract restrictions. Drawing on a large body of both theoretical and empirical work in neoclassical (rather than behavioral) financial economics, this article argues that while some consumers undoubtedly did fail to understand such complex mortgages, the terms of those mortgages had a solid economic rationale and made welfare-increasing mortgage credit available to consumers when it otherwise would not have been available. By severely discouraging complex mortgages from being written, Dodd Frank and regulations promulgated thereunder by the Consumer Financial Protection Bureau have priced out of the mortgage market entire groups of potential homeowners - including younger people, minorities and the self-employed. Welfare losses to such people from restricting contractual freedom are very real, and must be balanced against the benefits to those consumers who are arguably protected against ex ante undesirable mortgage contracts and to others in society arguably harmed when mortgages default. A policy of minimizing such harms by speeding and lowering the cost of recovery from mortgage contract failure is argued to be superior to policies, such as Dodd Frank's mortgage contract restrictions, designed to prevent such failures by mandating or manipulating private contractual choice.

Download or read book Vulnerable Consumers and the Law written by Christine Riefa and published by Routledge. This book was released on 2020-10-27 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book charts the difficulties encountered by vulnerable consumers in their access to justice, through the contributions of prominent authors (academic, practitioners and consultants) in the field of consumer law and access to justice. It demonstrates that despite the development of ADR, access to justice is still severely lacking for the vulnerable consumer. The book highlights that a broad understanding of access to justice, which encompasses good regulation and its public enforcement, is an essential ingredient alongside access to the mechanisms of traditional private justice (courts and ADR) to protect the vulnerable consumer. Indeed, many of the difficulties are linked to normative obstacles and lack of access to justice is primarily a vulnerability in itself that can exacerbate existing ones. In addition, because it may contribute to ‘pushing’ already vulnerable consumers into social exclusion it is not simply about economic justice but also about social justice. The book shows that lack of access to justice is not irreversible nor is it necessarily linked to consumer apathy. New technologies could provide solutions. The book concludes with a plea for developing ‘inclusive’ justice systems with more emphasis on public enforcement alongside effective courts systems to offer the vulnerable with adequate means to defend themselves. This book will be suitable for both students and practitioners, and all those with an interest in the justice system.

Download or read book Creditworthiness and Responsible Credit written by Noah Vardi and published by BRILL. This book was released on 2022-09-12 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this comparative study in US and EU law, Noah Vardi questions whether there is a legally enforceable duty to lend and borrow credit in a “responsible” manner and clarifies the associated notion of “creditworthiness.”

Download or read book Justifying Contract in Europe written by Martijn Willem Hesselink and published by Oxford University Press. This book was released on 2021 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title explores the normative foundations of European contract law. It addresses fundamental political questions on contract law in Europe from the perspective of leading contemporary political theories. Does the law of contract need a democratic basis? To what extent should it be Europeanised? What justifies the binding force of contract and the main remedies for breach? When should weaker parties be protected? Should market transactions be considered legally void when they are immoral? Which rules of contract law should the parties be free to opt out of? Adopting a critical lens, this book interrogates utilitarian, liberal-egalitarian, libertarian, communitarian, civic republican, and discourse-theoretical political philosophies and analyses the answers they provide to these questions. It also situates these theoretical debates within the context of the political landscape of European contract law and the divergent views expressed by lawmakers, legal academics, and other stakeholders. This work moves beyond the acquis positivism, market reductionism, and private law essentialism that tend to dominate these conversations and foregrounds normative complexity. It explores the principles and values behind various arguments used in the debates on European contract law and its future to highlight the normative stakes involved in the practical question of what we, as a society, should do about contract law in Europe. In so doing, it opens up democratic space for the consideration of alternative futures for contract law in the European Union, and for better justifications for those parts of the EU contract law acquis we wish to retain.

Download or read book Landmark Cases in Consumer Law written by Jodi Gardner and published by Bloomsbury Publishing. This book was released on 2024-01-11 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the history of the common law foundations of consumer law, and encourages readers to rethink the role that consumer law plays in our society. Consumer law is often constructed as purely statute-based law. However – as this collection will demonstrate – this is far from the truth. Much of the history of the common law concerns consumer transactions and markets. Case law has often established or modified the ground rules of consumer markets, has had a patterning effect on the economic organisation of markets, and has expressed cultural visions of the market and consumers. An analysis of landmark cases of consumer law allows many traditional cases to be viewed through a new and distinct lens, providing significant academic and intellectual value. The collection also includes a unique socio-legal perspective, considering the role that consumer law has played in addressing racial discrimination, LGBTQ challenges and the rights of women. This collection of landmark cases demonstrates the theoretical and practical significance of consumer law through a wide range of contributions by distinguished authors from the United Kingdom, Europe, the United States and Australia.

Download or read book The Politics of Justice in European Private Law written by Hans-W Micklitz and published by Cambridge University Press. This book was released on 2018-11-15 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Politics of Justice in European Private Law intends to highlight the differences between the Member States' concepts of social justice, which have developed historically, and the distinct European concept of access justice. Contrary to the emerging critique of Europe's justice deficit in the aftermath of the Euro crisis, this book argues that beneath the larger picture of the Monetary Union, a more positive and more promising European concept of justice is developing. European access justice is thinner than national social justice, but access justice represents a distinct conception of justice nevertheless. Member States or nation states remain free to complement European access justice and bring to bear their own pattern of social justice.

Download or read book Legal Pluralism in European Contract Law written by Vanessa Mak and published by Oxford University Press. This book was released on 2020-09-11 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relevance of contracting and self-regulation in consumer markets has increased rapidly in recent years, in particular in the platform economy. Online platforms provide opportunities for businesses and consumers to connect with strangers, often across borders, trading products, and services. In this new economy, platform operators create, apply and enforce their own rules in their contractual relationships with users. This book examines the substance of these rules and the space for private governance beyond the reach of state regulation. Vanessa Mak explores recent developments in lawmaking 'beyond the state' with case studies focusing on companies such as Airbnb and Amazon. The book asks how common values and objectives of EU law, such as consumer protection and contractual fairness, can be safeguarded when lawmaking shifts to a space outside the reach of state law.

Download or read book The Financialisation of the Citizen written by Guido Comparato and published by Bloomsbury Publishing. This book was released on 2018-08-23 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the role of private law as an instrument to produce financial and social inclusion in a context characterised by the redefinition of the role of the State and by the financialisation of society. By depicting the political and economic developments behind the popular idea of financial inclusion, the book deconstructs that notion, illustrating the existence and interaction of different discourses surrounding it. The book further traces the evolution of inclusion, specifically in the European context, and thus moves on to analyse the legal rules which are most relevant for the purposes of bringing about the financialisation of the citizen. Hence, the author focuses more on four highly topical areas: access to a bank account, access to credit, over indebtedness, and financial education. Adopting a critical and inter-disciplinary approach, The Financialisation of the Citizen takes the reader through a top-down journey starting from the political economy of financialisation, to the law and policy of the European Union, and finally to more specific private law rules.

Download or read book Free Movement of Legal Ideas written by Thomas Wilhelmsson and published by Bloomsbury Publishing. This book was released on 2024-07-11 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This seminal book develops a new perspective on the debate concerning the Europeanisation of private law. The theory is both realistic, building on existing experience, and normative as it focuses on the future. It outlines 'good' Europeanisation in which legal sources can be used across borders; hence the free movement of legal ideas. At its core, is the analysis of the legal consequences of growing societal uncertainty and increasing use of micro-politics, leading to a situation where the law develops through small narratives rather than according to a coherent master plan. The inevitable rule of law concerns around such a development, have to be addressed by transparent legal reasoning. The author masterfully illustrates how this can be achieved in decision-making across Europe, drawing on arguments which are both substantive and authoritative in nature. He shows how all legal actors, including decision-makers and scholars, are morally responsible for the choices made. This is a fascinating intervention in the field of European private law by one of its leading authorities.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Undue Influence written by Sandra D. Glazier and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is primarily geared toward estate planners and probate litigators, it may provide a greater understanding of issues relating to capacity, the attorney's role, and the process known as "undue influence." This book does not constitute legal advice"--

Download or read book Access to Justice for Vulnerable and Energy Poor Consumers written by Naomi Creutzfeldt and published by Bloomsbury Publishing. This book was released on 2021-07-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do ordinary people access justice? This book offers a novel socio-legal approach to access to justice, alternative dispute resolution, vulnerability and energy poverty. It poses an access to justice challenge and rethinks it through a lens that accommodates all affected people, especially those who are currently falling through the system. It raises broader questions about alternative dispute resolution, the need for reform to include more collective approaches, a stronger recognition of the needs of vulnerable people, and a stronger emphasis on delivering social justice. The authors use energy poverty as a site of vulnerability and examine the barriers to justice facing this excluded group. The book assembles the findings of an interdisciplinary research project studying access to justice and its barriers in the UK, Italy, France, Bulgaria and Spain (Catalonia). In-depth interviews with regulators, ombuds, energy companies, third-sector organisations and vulnerable people provide a rich dataset through which to understand the phenomenon. The book provides theoretical and empirical insights which shed new light on these issues and sets out new directions of inquiry for research, policy and practice. It will be of interest to researchers, students and policymakers working on access to justice, consumer vulnerability, energy poverty, and the complex intersection between these fields. The book includes contributions by Cosmo Graham (UK), Sarah Supino and Benedetta Voltaggio (Italy), Marine Cornelis (France), Anais Varo and Enric Bartlett (Catalonia) and Teodora Peneva (Bulgaria).

Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Download or read book Global Financial Development Report 2014 written by World Bank Group and published by World Bank Publications. This book was released on 2013-11-07 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second issue in a new series, Global Financial Development Report 2014 takes a step back and re-examines financial inclusion from the perspective of new global datasets and new evidence. It builds on a critical mass of new research and operational work produced by World Bank Group staff as well as outside researchers and contributors.