Skip to main content
ClearingHouse Community Menu ≡

The Need for Reconstructing the Legal Framework Governing the Credit Marketplace

By Margot Saunders & Gillian Feiner

Although abusive credit scams always have been a problem in our commercially oriented culture, the problems caused in the past fifteen years by the explosion of predatory lending are new in the history of personal credit. At the same time, federal preemption of essential state consumer credit laws, the expansion of federal banking agency powers, and congressional changes in the tax code have eroded consumer protections. Consistent federal government tax policies and tougher federal regulation of the credit relationship are needed to protect consumers and halt predatory lending.

Download this article
↑ Go up to the top.