Introduction: Fair Price and Sufficient Profit

Craig McMahon ()
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Craig McMahon: Villanova University

Chapter Chapter 1 in Taming the Fringe, 2021, pp 1-15 from Palgrave Macmillan

Abstract: Abstract Taming the Fringe analyses the regulation and evolution of two credit products that were, and remain, vital to the working poor. Policymakers have struggled with pawnbroking and moneylending because they raise broader issues pertaining to poverty, capitalism and financial regulation. The values of easily accessible credit and financial independence compete with society’s desire to protect people from predatory loans. Policymakers have pondered whether regulation can lower costs without reducing access for those most in need of small cash loans. Can government policy protect borrowers while also providing sufficient profit for lenders? The many attempts at doing so reveal the difficulty of safeguarding the needs of people who have experienced financial trouble before seeking a loan.

Keywords: Payday lending; Pawnbroker; Small-loan policy; High cost credit; Financial inclusion (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-030-70615-9_1

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DOI: 10.1007/978-3-030-70615-9_1

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