Truth in Lending: Theory, History, and a Way Forward by Thomas A. DurkinTruth in Lending: Theory, History, and a Way Forward by Thomas A. Durkin

Truth in Lending: Theory, History, and a Way Forward

byThomas A. Durkin, Gregory Elliehausen

Hardcover | March 11, 2011

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This book is a guide to purposes, strengths, and weaknesses of disclosures as consumer protections in common financial transactions such as loans, deposits, and consumer leases. It focuses on the federal Truth in Lending Act but also includes discussion of a variety of other federal disclosurestatutes 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. The book reviews the theory, evidence, background, and legal development of Truth in Lending and the other federal financial disclosure requirements to arrive at principles that would improve these laws and help avoid repeating the history of often dysfunctional reform measures undertaken in thepast. 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 only specialists who spend much of their time focused on them. For this reason, the work avoids academic jargon and themathematics 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 tooutline 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.
Thomas Durkin has specialized in the economics and regulation of consumer financial services, in the federal government as Senior Economist at the Federal Reserve Board, in the academic area as Associate Professor of Finance at the Pennsylvania State University, and in the private sector as Chief Economist of the American Financial Ser...
Title:Truth in Lending: Theory, History, and a Way ForwardFormat:HardcoverDimensions:368 pages, 9.25 × 6.12 × 0.98 inPublished:March 11, 2011Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195172957

ISBN - 13:9780195172959


Table of Contents

PrefaceContentsForewordIntroduction: The Evolution of TILA: The Truth Can Be Hard to Handle1. Disclosures in the Regulatory Scheme2. Why Disclosures?3. A Bountiful Table4. What is Truth (in Lending)?5. If It Can Go Wrong...6. The Rubber Meets the Road: Evaluating Truth in Lending as an Information Protection7. There's More: Other Financial Information Protections8. ConclusionReferencesTablesIndex