Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 5 of 5
Full-Text Articles in Law
The Cost Of Democratization: Beyond Economists' Explanations Of Credit Card Debt, Andrea Freeman
The Cost Of Democratization: Beyond Economists' Explanations Of Credit Card Debt, Andrea Freeman
Andrea Freeman
The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Industry studies indicate that African Americans and Latinos pay higher interest rates and more penalty fees than whites. Compounding credit card debt disparities are recent census statistics revealing that whites now have a median wealth twenty times higher than African Americans and eighteen times higher than Latinos. Despite the high social costs of deepening inequalities, law and economics and behavioral economics have largely ignored their contribution to market failure …
The Cost Of Democratization: Beyond Economists' Explanations Of Credit Card Debt, Andrea Freeman
The Cost Of Democratization: Beyond Economists' Explanations Of Credit Card Debt, Andrea Freeman
Andrea Freeman
The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Industry studies indicate that African Americans and Latinos pay higher interest rates and more penalty fees than whites. Compounding credit card debt disparities are recent census statistics revealing that whites now have a median wealth twenty times higher than African Americans and eighteen times higher than Latinos. Despite the high social costs of deepening inequalities, law and economics and behavioral economics have largely ignored their contribution to market failure …
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Andrea Freeman
Credit card debt, particularly in conjunction with the subprime lending crisis and severe economic recession, jeopardizes the ability of many African American and Latino households to maintain financial viability. The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Documented racial disparities in credit card debt represent and perpetuate structural inequities that require regulatory intervention. Both increased consumer protection and structural reform are necessary to reduce credit card debt disparities arising from present and past discrimination and subordination. The …
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Andrea Freeman
Credit card debt, particularly in conjunction with the subprime lending crisis and severe economic recession, jeopardizes the ability of many African American and Latino households to maintain financial viability. The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Documented racial disparities in credit card debt represent and perpetuate structural inequities that require regulatory intervention. Both increased consumer protection and structural reform are necessary to reduce credit card debt disparities arising from present and past discrimination and subordination. The …
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Andrea Freeman
Credit card debt, particularly in conjunction with the subprime lending crisis and severe economic recession, jeopardizes the ability of many African American and Latino households to maintain financial viability. The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Documented racial disparities in credit card debt represent and perpetuate structural inequities that require regulatory intervention. Both increased consumer protection and structural reform are necessary to reduce credit card debt disparities arising from present and past discrimination and subordination. The …