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Democracy Declined – The Failed Politics of Consumer Financial Protection - Chicago Scholarship Online
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Democracy Declined: The Failed Politics of Consumer Financial Protection

Mallory E. SoRelle

Abstract

Borrowing has become the American way of life. We increasingly rely on consumer credit to purchase daily necessities and to weather unexpected emergencies. But borrowing to live is a double-edged sword: While access to credit can help people afford the American dream, borrowing also exposes them to high interest rates, fees, and mounting debt that can quickly turn into a financial nightmare. Despite this threat, policymakers haven’t put an end to predatory lending, borrowers haven’t taken political action to demand better financial protection, and consumer groups haven’t been able to change ei ... More

Keywords: consumer credit, predatory lending, political participation, consumer financial protection, 2008 global financial crisis, political economy, policy feedback, economic inequality, regulation

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780226711652
Published to Chicago Scholarship Online: May 2021 DOI:10.7208/chicago/9780226711829.001.0001

Authors

Affiliations are at time of print publication.

Mallory E. SoRelle, author
Duke University