Edited by Geraint Howells, Iain Ramsay and Thomas Wilhelmsson
Chapter 13: Regulation of consumer credit
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.
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