Open Access. Powered by Scholars. Published by Universities.®
- Institution
- Keyword
-
- Bargaining theory (1)
- Columbia Law Review (1)
- Consumer Credit Protection Act (CCPA) (1)
- Consumer credit (1)
- Consumer debt (1)
-
- Credit practices rule (1)
- Creditor remedies (1)
- Damages (1)
- Debt collection (1)
- Debt collector (1)
- Distribution (1)
- Dodd-Frank (1)
- Equity (1)
- Fair value (1)
- Federal Trade Commission (FTC) (1)
- Law (1)
- Leverage (1)
- Licensing (1)
- Lost value (1)
- Model Consumer Credit Act (MCCA) (1)
- Mortgage (1)
- National Consumer Act (NCA) (1)
- Personal installment credit (1)
- Regulation (1)
- Regulatory reform (1)
- Securities (Law) (1)
- Tort theory (1)
- Uniform Consumer Credit Code (UCCC) (1)
- Wages (1)
- William & Mary Law Review (1)
Articles 1 - 4 of 4
Full-Text Articles in Legal Remedies
Three Proposals For Regulating The Distribution Of Home Equity, Ian Ayres, Joshua Mitts
Three Proposals For Regulating The Distribution Of Home Equity, Ian Ayres, Joshua Mitts
Faculty Scholarship
The Consumer Financial Protection Bureau’s recently-released “qualified mortgage” rules effectively discourage predatory lending but miss an equally important source of systemic risk: low-equity clustering. Specific “volatility-inducing” mortgage terms, when present in a substantial cluster of mortgage contracts, exacerbate macroeconomic risk by increasing the chance that the housing and lending markets will have to absorb a wave of simultaneous defaults after a downturn in housing prices. This Article shows that these terms became prevalent in a substantial proportion of residential mortgages in the years leading up to the home mortgage crisis. In contrast, during the earlier “amortization era” (when mortgagors were …
Compensating Market Value Losses: Rethinking The Theory Of Damages In A Market Economy, Steven L. Schwarcz
Compensating Market Value Losses: Rethinking The Theory Of Damages In A Market Economy, Steven L. Schwarcz
Faculty Scholarship
The BP Deepwater Horizon spill and the Toyota car recalls have highlighted an important legal anomaly that has been overlooked by scholars — judicial inconsistency and confusion in ruling whether to compensate for the loss in market value of wrongfully affected property. This article seeks to understand the anomaly and, in the process, to build a stronger foundation for enabling courts to decide when — and in what amounts — to award damages for market value losses. To that end, the Article analyzes the normative rationales for generally awarding damages, adapting those rationales to derive a theory of damages that …
Rethinking The Regulation Of Coercive Creditor Remedies, Robert E. Scott
Rethinking The Regulation Of Coercive Creditor Remedies, Robert E. Scott
Faculty Scholarship
The phenomenal growth of personal installment credit over the past forty years has generated inevitable pressures for regulatory reform of consumer credit markets. Much of the impetus for consumer protection has stemmed from the perceived abuses that mark the process of coercive collection upon default. Some of these abuses have been identified, quite properly, as the sort of deceptive or fraudulent practices often associated with industries experiencing rapid growth. But other creditor remedies, though troublesome to many observers, cannot be as easily characterized. For example, many critics have challenged the common practice of self-help repossession and resale of consumer goods …
Abusive Debt Collection – A Model Statute For Virginia, Robert E. Scott, Diane M. Strickland
Abusive Debt Collection – A Model Statute For Virginia, Robert E. Scott, Diane M. Strickland
Faculty Scholarship
Among the many by-products of the phenomenal growth of consumer credit in the last two decades has been the attempt on the part of existing legal institutions to grapple with the problem of coercive debt collection. The existence of the problem is no longer disputed, and the nature and extent of the abuse surrounding debt collection practices has been the subject of voluminous commentary. Given the dynamics of the competing interests involved when a creditor attempts to collect a just debt which the debtor is unable to pay, an essential conflict requiring regulated resolution becomes apparent. Unfortunately, the problem is …