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Microfinance; Latin America; TMR Guidelines; Small Business; micro-entrepeneurs; Association of Supervisors of Banks of the Americas; ASBA; Basel Committee for Banking Supervision; BCBS; Consultative Group to Assist the Poor; CGAP; Prudential Regulations; PR; Non-Prudential Regulations; NPR; Debt Collection
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Exploiting Latin American Microfinance Deregulation: One Borrower At A Time, Karlamaria Cabral
Exploiting Latin American Microfinance Deregulation: One Borrower At A Time, Karlamaria Cabral
Brooklyn Journal of Corporate, Financial & Commercial Law
Microfinance seeks to eradicate poverty through the economic growth and development that results when seed capital is given to microenterprises. In 2015, Latin America’s microfinance loan portfolio totaled $40 billion USD and included more than twenty-two million borrowers. Due to the current state of microfinance in the region—abusive lending practices and betraying the original goal and purpose of eradicating poverty—this Note advocates for a regional regulatory body, such as the Latin American Microfinance Association, that would develop and assist Latin American countries to implement model legal frameworks that increase client protection, create licensing requirements, establish interest rate caps, and recognize …