Abstract
In order to promulgate effective consumer credit regulation, policy makers must understand the factors behind the supply of and demand for consumer credit as well as the economic and sociological benefits and detriments of consumer borrowing and lending. After an explanation of each of these factors and of the various types of consumer finance, this chapter suggests a regulatory approach that will reduce the damage but allow beneficial transactions to continue to occur. This inquiry includes the burgeoning field of behavioral economics which seeks insight into how and why individuals make the decisions we make. The chapter also sheds light on the macro and micro sociological and economic impacts of these choices.
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