This book explores the political, economic and regulatory context in which credit regulation is taking place following the global financial crisis. It suggests that current neoliberal economic policies favour multi-national corporations rather than consumers and examines regulatory responses to the internationalization of consumer finance protection. Detailing how EU consumers have been affected by national economic conditions, the book also analyses the lending regimes of Europe, Australia, the US and South Africa and offers suggestions for responsible lending to avoid over-indebtedness and corrupt mortgage-lending. Finally, new approaches and directions for consumer credit regulations are outlined, such as protection for small businesses, protection against risky credit products, reorganization of mortgage securitization and the possibility of a partnership model to address financial exclusion. The book includes contributions from leading names in the field of consumer law and will be invaluable to those interested in banking, business and commercial law.
’With this interesting and topical collection, Therese Wilson has brought together some of the leading commentators on consumer law and financial regulation. They, in turn, have contemplated some of the principal challenges emanating from the global financial crisis. The result is an impressive work of interest to lawyers, scholars and policy-makers alike.’ Peter Cartwright, University of Nottingham, UK ’There are many books about the financial crisis, but this one is exceptional. The chapters survey the international landscape of failed past policies and promising new ones, without relying on dogma. This unique combination makes an important contribution to the on-going public debate about the future of consumer protection.’ Kathleen Engel, Suffolk Law School, USA and co-author of The Subprime Virus: Reckless Lending, Regulatory Failure and Next Steps