Consumer credit, its role and regulation, has become a hot topic since the Great Recession of 2008. This chapter outlines an emerging international consensus on the regulation of credit markets and examines critically central aspects of this consensus: appropriate supervision of credit markets through regulatory agencies; the promotion of financial inclusion and access to credit at a reasonable cost; mandatory information disclosure; responsible lending; the facilitation of credit information through credit reference agencies; and financial literacy. It also examines the more controversial issue of price controls and concludes by analysing the role of payment intermediaries in providing redress in transnational purchases.
Geraint Howells, Iain Ramsay and Thomas Wilhelmsson
This introduction explains why the handbook is needed. It discusses the scope of consumer law and provides an overview of its historical development and theoretical rationales. It also considers to what extent there is an international consumer law.