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Deleveraging Microfinance: Principles For Managing Voluntary Debt Workouts Of Microfinance Institutions, Deborah Burand
Deleveraging Microfinance: Principles For Managing Voluntary Debt Workouts Of Microfinance Institutions, Deborah Burand
Articles
This paper focuses on the challenges of responding to a deleveraging of the microfinance sector and offers guidelines for stakeholders in microfinance-regulators, policymakers, investors (debt and equity), donors, and microfinance providers-for how to address these challenges in the context of a microfinance institution debt workout so as to minimize undue disruption and damage to the microfinance sector as a whole.
Policies To Expand Minority Entrepreneurship: Closing Comments, Michael S. Barr
Policies To Expand Minority Entrepreneurship: Closing Comments, Michael S. Barr
Book Chapters
This essay is based on comments delivered at the Conference on on Entrepreneurship in Low- and Moderate-Income Communities, November 3-4, 2005. This has been a productive conversation. In my closing comments, I want to shift our focus somewhat, from entrepreneurship in low-income communities to minority entrepreneurship generally. I want to do so because many minority entrepreneurs are connected to or hire from low-income communities, and because minority entrepreneurs face critical barriers even when they attempt to create and grow firms outside of distressed communities. In this comment, I want to highlight key barriers and suggest five steps for Congress, the …
Microfinance And Financial Development, Michael S. Barr
Microfinance And Financial Development, Michael S. Barr
Articles
Close to three billion people-half of the world's population-live on less than two dollars a day.' Within these poor communities, one child in five will not live to see his or her fifth birthday. To boost international development, the United Nations (UN) announced the Millennium Development Goals, aimed at eradicating poverty by 2015.? A number of countries responded at the International Conference for Financing International Development in Monterrey, Mexico, by creating action plans to begin to implement the Millennium Development Goals.4 Yet the Millennium Development Goals will prove difficult to achieve.1
Banking For The Unbanked, Michael S. Barr
Banking For The Unbanked, Michael S. Barr
Articles
The consequences of not having access to mainstream financial services can be severe. Fim, the "unbanked" face high costs for basic financial servies. For example, a 2000 Treasury [U.S. Treasury Department] study found that a worker eaming $12,000 a year would pay approximately $250 annually just to cash payroll checks at a check cashing outlet, in addition to fees for money orders, wire transfers, bill payments, and other common transactions. Regular payments with low credit risk that could be directly deposited into bank accounts, with significantly lower payment systems costs, form the bulk of checks cashed at these check cashing …
The Usury Trompe L'Oeil, James J. White
The Usury Trompe L'Oeil, James J. White
Articles
This Article demonstrates how the interaction of a federal statute passed in 1864,1 a case decided by the Supreme Court in 1978,2 and modem technology has legally debarred every state legislature from controlling consumer interest rates in its state-but not from passing laws that appear to do so-and has politically debarred the Congress from setting federal rates to replace the state rates. As a consequence, the elaborate usury laws on the books of most states are only a trompe l'oeil, a "visual deception... rendered in extremely fine detail ... ." The presence of these finely detailed laws gives the illusion …
Consumer Sensitivity To Interest Rates: An Empirical Study Of New Car Buyers And Auto Loans, James J. White, Frank W. Munger Jr.
Consumer Sensitivity To Interest Rates: An Empirical Study Of New Car Buyers And Auto Loans, James J. White, Frank W. Munger Jr.
Articles
ALTHOUGH it has never been clear whether the consumer needs to be protected from his own folly or from the rapaciousness of those who feed on him, consumer protection is a topic of intense current interest in the courts, in the legislatures, and in the law schools. A number of recent court decisions have attempted to attack problems confronting the consumer; unfortunately, these judicial efforts have succeeded primarily in disclosing the limitations in the courts' ability to deal with such problems. State and federal legislative bodies have pursued more carefully designed remedies. Congress has passed the Truth-in-Lending Act; the National …
Consumer Credit In The Ghetto: Ucc Free Entry Provisions And The Federal Trade Commission Study (Business In The Ghetto), James J. White
Consumer Credit In The Ghetto: Ucc Free Entry Provisions And The Federal Trade Commission Study (Business In The Ghetto), James J. White
Other Publications
Like the former speakers, I will not speak on the topic for which I was scheduled. Instead I am going to talk about two things which are not closely related to one another but which are both related to the profitability of the retail sale of goods and credit in the ghetto. I propose to leave the law on consumer credit to Mr. Dostert and Professor Hogan. First I wish to say a word on the so-called "free entry" aspects of the Uniform Consumer Credit Code; then I will comment on the Federal Trade Commission study.