City of debtors : a century of fringe finance / Anne Fleming.
2018
HG3711.U6 F55 2018eb
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Title
City of debtors : a century of fringe finance / Anne Fleming.
Author
Fleming, Anne, 1979- author.
ISBN
9780674982048 (electronic book)
0674982045 (electronic book)
9780674976238
0674976231
0674982045 (electronic book)
9780674976238
0674976231
Published
Cambridge, Massachusetts : Harvard University Press, 2018.
Copyright
©2018
Language
English
Description
1 online resource (367 pages)
Call Number
HG3711.U6 F55 2018eb
Dewey Decimal Classification
332.709747/1
Summary
Since the rise of the small-sum lending industry in the 1890s, people on the lowest rungs of the economic ladder in the United States have been asked to pay the greatest price for credit. Again and again, Americans have asked why the most fragile borrowers face the highest costs for access to the smallest loans. To protect low-wage workers in need of credit, reformers have repeatedly turned to law, only to face the vexing question of where to draw the line between necessary protection and overreaching paternalism. City of Debtors shows how each generation of Americans has tackled the problem of fringe finance, using law to redefine the meaning of justice within capitalism for those on the economic margins. Anne Fleming tells the story of the small-sum lending industry's growth and regulation from the ground up, following the people who navigated the market for small loans and those who shaped its development at the state and local level. Fleming's focus on the city and state of New York, which served as incubators for numerous lending reforms that later spread throughout the nation, differentiates her approach from work that has centered on federal regulation. It also reveals the overlooked challenges of governing a modern financial industry within a federalist framework. Fleming's detailed work contributes to the broader and ongoing debate about the meaning of justice within capitalistic societies, by exploring the fault line in the landscape of capitalism where poverty, the welfare state, and consumer credit converge.-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Description based on print version record.
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City of debtors.
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Table of Contents
Lending in the shadow of the law
From loan sharks to licensed lenders
New threats to an old deal
Bringing sales finance under law
The problem of the food freezer plan
Due process in debt collection
Financial federalism.
From loan sharks to licensed lenders
New threats to an old deal
Bringing sales finance under law
The problem of the food freezer plan
Due process in debt collection
Financial federalism.