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"Development of transatlantic consumer credit, regulation and policy" [2019] ELECD 2500; in Brown, Sarah (ed), "The Regulation of Consumer Credit" (Edward Elgar Publishing, 2019) 8

Book Title: The Regulation of Consumer Credit

Editor(s): Brown, Sarah

Publisher: Edward Elgar Publishing

Section: Chapter 2

Section Title: Development of transatlantic consumer credit, regulation and policy

Number of pages: 30

Abstract/Description:

The basis of much credit provision and development of consumer protection in the credit market has been mirrored across the Atlantic, prompting seemingly similar responses. It appears at first glance that rates of progress are the only observable difference, rather than there being deep divergence. The chapter discusses how policy and the regulatory response has developed over time, including the pace of development of the market from the nineteenth century, when the first attempts at legislative control over personal borrowing were made, to the state of modern consumer borrowing today. It also charts policy and regulatory responses to the emerging nature of the consumer credit relationship and concludes that while transatlantic values are not so different, and while the social and political backdrop to the provision of credit may differ, the benefits and detriments of credit are essentially the same and have remained so over time.


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