Law & Economics Working Papers
This survey of the law and economics of consumer finance discusses economic models of consumer lending, and evaluates the major consumer finance laws in light of them. We focus on usury laws, restrictions on creditor remedies such as the ban on expansive security interests, bankruptcy law, limitations on third-party defenses such as the holder in due course doctrine, information disclosure rules including the Truth in Lending Act, and anti-discrimination law. We also discuss the empirical literature.
Eric Posner & Richard M. Hynes, "The Law and Economics of Consumer Finance" (John M. Olin Program in Law and Economics Working Paper No. 117, 2001).