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Call # KF1040 .D87 2010
Author Durkin, Thomas A
Title Truth in lending : theory, history, and a way forward / Thomas A. Durkin, Gregory Elliehausen
Imprint Oxford ; New York : Oxford University Press, c2011
Book Cover
 WMS STACKS  KF1040 .D87 2010    AVAILABLE


Descript. xvii, 364 p. : ill. ; 25 cm
Summary/Abstract This book is a guide to the purposes, strengths, and weaknesses of disclosures as consumer protections in financial transactions such as loans, deposits, and consumer leases. It focuses on the federal Truth in Lending Act but also covers a variety of other federal disclosure statutes designed to protect consumers in their financial relationships. It comes at a time when federal financial consumer protection policy in the financial area is again a matter of intense public scrutiny and debate. --
Because of the importance of public policy issues surrounding use of disclosures as consumer protections, the intended audience includes anyone interested in these issues, not simply specialists who spend their time focused on them. For this reason, the work avoids academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for better disclosures for consumers and to what they have become today. Despite a need to outline and review prior difficulties with disclosure laws, the book remains optimistic that disclosures will continue to be an important means of consumer protection and that future reforms can improve their effectiveness and lower their regulatory costs and burden. --Book Jacket
Note Includes bibliographical references (p. 345-359) and index
Subject Consumer credit -- Law and legislation -- United States
Interest -- Law and legislation -- United States
Disclosure of information -- Law and legislation -- United States
Alt Author Elliehausen, Gregory E
OCLC # 144545780
Table of Contents
1.Evolution of the Truth in Lending Act: The Truth Can Be Hard to Handle1
2.Disclosures in the Regulatory Scheme15
3.Why Disclosures?23
4.What is Truth in Lending? Key Conceptual Problems Facing the Truth in Lending Act82
5.Outlay and Unknown Future Events Issues: Closed-End Credit118
6.Outlay and Unknown Future Events Issues: Open-End Credit136
7.Rubber Meets the Road: Evaluating the Effectiveness of the Truth in Lending Act170
8.Suggestions for a Way Forward212
Appendix A List of Financial Disclosures in Federal Consumer Protection Statutes222
Appendix B Discussion of Disclosures in Selected Federal Consumer Financial Protection Statutes Other than the Truth in Lending Act249