Open Access. Powered by Scholars. Published by Universities.®
- Publication
- Publication Type
Articles 1 - 4 of 4
Full-Text Articles in Law
Japan And The Moneylenders—Activist Courts And Substantive Justice, Andrew M. Pardieck
Japan And The Moneylenders—Activist Courts And Substantive Justice, Andrew M. Pardieck
Washington International Law Journal
Problems with sub-prime loans roiled financial markets worldwide in 2007 and brought renewed attention to predatory lending practices by loan brokers in the United States. Questionable lending practices, however, plague consumer financial markets worldwide, including one of the largest, found in Japan. This Article addresses the Japanese response to systemic problems in its consumer finance market. Over the last forty years, the judiciary has led and the Diet followed. Most recently, in 2006, the Supreme Court handed down a series of decisions that turned the single most important earnings driver for the consumer finance industry into dead letter law. The …
Money For Nothing, Your Crisis For Free?: A Comparative Analysis Of Consumer Credit Policies For Post-1997 South Korea And Thailand, Jasper Kim, Kemavit Bhangananda
Money For Nothing, Your Crisis For Free?: A Comparative Analysis Of Consumer Credit Policies For Post-1997 South Korea And Thailand, Jasper Kim, Kemavit Bhangananda
Washington International Law Journal
Both the South Korean and Thai governments encouraged consumer credit card usage to boost consumer spending and reinvigorate the national economy following the 1997-98 Asian financial crisis. Today, almost a decade following the crisis, the authors provide a comparative analysis of how policymakers in both South Korea and Thailand have attempted to regulate the rapid upsurge in consumer credit card debt in their respective economies. This Article also notes some of the benefits and risks of the approaches taken by the South Korean and Thai governments, using as focal points the South Korean government’s Individual Debtor Rehabilitation Act, a personal …
Vietnam's Decree On Microfinance: A Flawed Attempt To Create An Enabling Legal Environment For Microfinance, Elin M. King
Vietnam's Decree On Microfinance: A Flawed Attempt To Create An Enabling Legal Environment For Microfinance, Elin M. King
Washington International Law Journal
Despite its increasing as a development tool microfinance still faces significant barriers in reaching the poorest of the poor. Microfinance programs often respond well to short-term needs but are not designed to handle the long-term struggles faced by lending institutions. To resolve these problems, many in the microfinance field have begun to tout the concept of creating “enabling” legal and regulatory frameworks. Such an enabling environment would ideally eliminate unreasonable barriers to entry into the field, encourage innovation, and reinforce industry best practices. An enabling regulatory scheme could also increase legal certainty, encourage more investors to enter the field and …
Confusion And Convergence In Consumer Payments: Is Coherence In Error Resolution Appropriate?, Anita Ramasastry
Confusion And Convergence In Consumer Payments: Is Coherence In Error Resolution Appropriate?, Anita Ramasastry
Articles
At present, there are no uniform rules governing retail payment systems in the United States. Checks, credit cards, debit cards, and new types of payment systems—such as stored-value cards and prepaid cards—are governed by different rules and provide consumers with varying protections. In addition, several phenomena may have confused consumers about the type of consumer protections they have when using different payment systems. First, new types of intermediaries have developed—such as online funds transmission and electronic bill presentment and payment—that piggyback on existing payment systems. Second, electronic check conversion systems may convert customer checks into a different payment system—electronic funds …