52 Pages Posted: 23 Feb 2001
Date Written: February 2001
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.
JEL Classification: G20, K12, K20
Suggested Citation: 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: https://ssrn.com/abstract=261109 or http://dx.doi.org/10.2139/ssrn.261109