Buy custom Reforming Credit Laws
Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1344 |
Essay's paper body
In 1974, the Consumer Credit Protection Act stated that borrowers could take lenders to court “only for extortionate lending, which [usually] meant showing the payments were ‘grossly exorbitant’ […] Only about 30 such credit cases are known to have reached the courts and, of those, only 10 succeeded†(Willman, 2007)...
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As Willman pointed out, there are still flaws in the credit industry that need to be corrected.
One of the recent changes that took place in 2006 provided for closer regulation of lenders. If determined that they have acted irresponsibly in offering credit advice, lenders can be ordered to compensate consumers who were wronged, repay interest and fees, or write off a debt...
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General points of the essay
Credit Application
Credit Derivatives
Credit Repair
Credit Score
Credit
credit protection
Discussion Of The Role Of A Central Bank And The Regulation Of The Financial Sector In View Of The Consequences Of The “Credit Crunch” In 2007 In The Us And The Uk In Particular.
Reforming Credit Laws
Credit Card
Conquering Credit
Credit Persuasive
Credit Crisis
Use of Credit Cards
Use of Credit in the U.S.
Credit Cars
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