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Law and Economics of Consumer Finance


Richard M. Hynes


University of Virginia School of Law

Eric A. Posner


University of Chicago - Law School

February 2001

U Chicago Law & Economics, Olin Working Paper No. 117

Abstract:     
This survey of the law and economics of consumer finance discusses economic models of consumer lending, and evaluates the major consumer finance laws in light of them. We focus on usury laws, restrictions on creditor remedies such as the ban on expansive security interests, bankruptcy law, limitations on third-party defenses such as the holder in due course doctrine, information disclosure rules including the Truth in Lending Act, and anti-discrimination law. We also discuss the empirical literature.

Number of Pages in PDF File: 52

JEL Classification: G20, K12, K20

working papers series


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Date posted: February 23, 2001  

Suggested Citation

Hynes, Richard M. and Posner, Eric A., Law and Economics of Consumer Finance (February 2001). U Chicago Law & Economics, Olin Working Paper No. 117. Available at SSRN: http://ssrn.com/abstract=261109 or http://dx.doi.org/10.2139/ssrn.261109

Contact Information

Richard M. Hynes (Contact Author)
University of Virginia School of Law ( email )
580 Massie Road
Charlottesville, VA 22903
United States
434-924-3743 (Phone)

Eric A. Posner
University of Chicago - Law School ( email )
1111 E. 60th St.
Chicago, IL 60637
United States
773-702-0425 (Phone)
773-702-0730 (Fax)
HOME PAGE: http://www.law.uchicago.edu/faculty/posner-e/
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