Law Commons^™

A New Uniform Code Of Consumer Credit, Danielle D'Onfro

Scholarship@WashULaw

This Essay provides an overview and criticism of predatory lending laws then proposes a new Uniform Code of Consumer Credit (UCCC) to work alongside the Truth in Lending Act. The proposed UCCC would provide a complete and behaviorally informed system of consumer financial protection that strives to keep credit affordable and to encourage innovative credit products. The Essay argues that a uniform law will create sufficient state-to-state consistency to reduce the need for federal preemption and thereby bring the benefits of federalism - protection from agency capture, legislative responsiveness and experimentation at the state level - into consumer financial protection. …