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Bankruptcy Law Commons

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2011

Discipline
Institution
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Publication
Publication Type

Articles 61 - 62 of 62

Full-Text Articles in Bankruptcy Law

At What Cost? Access To Consumer Credit In A Post-Financial Crisis Canada, Janis P. Sarra Jan 2011

At What Cost? Access To Consumer Credit In A Post-Financial Crisis Canada, Janis P. Sarra

All Faculty Publications

Access to consumer credit is influenced by many factors, such as amount and security of the consumer’s income, and credit card company and financial institution practices. Access is also driven by social, cultural and cognitive factors, including consumer understanding of the cost of credit; perceptions regarding ability to repay; cognitive influences regarding immediate consumption and delayed payment; understanding of the benefits and risks of debt to economic security; and the conflicts of interest inherent in the business of lending. Overall, bank and credit union credit has tightened since the global financial crisis. However, the study found that for many Canadians, …


A Minimalist Approach To State ‘Bankruptcy’, Steven L. Schwarcz Jan 2011

A Minimalist Approach To State ‘Bankruptcy’, Steven L. Schwarcz

Faculty Scholarship

Increasingly finding themselves in financial straitjackets, states have been turning to austerity measures, tax increases, privatization of services, and renegotiation of collective bargaining agreements. Absent a federal government bailout, however, states will also need debt relief if their debt burden becomes so crushing that reasonable efforts at fiscal reform will fail to avoid default. Some advocate providing this relief by, effectively, extending municipal bankruptcy law to states. That approach brings in excess baggage, however, engendering political opposition and constitutional concerns. There is a simpler solution: Enable states to work out their debt problems with their creditors. Although the main obstacle …