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Law and Economics of Consumer Finance

52 Pages Posted: 23 Feb 2001  

Richard M. Hynes

University of Virginia School of Law

Eric A. Posner

University of Chicago - Law School

Date Written: February 2001

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.

JEL Classification: G20, K12, K20

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

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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