The High Cost of Borrowing: An Intolerable Situation Created by Today's Inadequate Consumer Credit Protective Legislation
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Authors
Westerville, Mary Evelyn
Issue Date
1967
Type
Thesis
Language
en_US
Keywords
Alternative Title
Abstract
The intention of this thesis is to
explore in more detail what has been previously said about "the high cost
of borrowing" 'in consumer credit. Part 1 attempts to describe the diversified
growth of the consumer credit industry in terms of its many lending and
selling institutions and their credit plans. Part 2 describes the industry's
development in terms of its consumer protective legislation. Those
differing methods prescribed by law or used voluntarily to compute and
disclose the costs of credit are thusly included. Part 3 reveals the growing
awareness of the consumer's inability to both realistically compare
the costs of competing credit alternatives and ascertain the true cost
of consumer credit. This and the other effects of inadequate consumer
credit protective legislation are amply illustrated. Part 4 accounts
for those remedial efforts being made to increase consumer awareness of
the costs of credit and to in turn promote more rational consumer credit decisions. Much of Part 4 is therefore devoted to the "Truth-in-Lending"
bill and the solution of its pro and con arguments.
Description
x, 142 p.
Citation
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License
U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.