Democracy declined : the failed politics of consumer financial protection
Author(s)
Bibliographic Information
Democracy declined : the failed politics of consumer financial protection
(Chicago studies in American politics)
The University of Chicago Press, 2020
- : pbk
Available at 3 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
-
National Graduate Institute for Policy Studies Library (GRIPS Library)
: pbk332.53||So5501514367
Note
Includes bibliographical references (p. [267]-284) and index
Description and Table of Contents
Description
As Elizabeth Warren memorably wrote, "It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the family out on the street." More than a century after the government embraced credit to fuel the American economy, consumer financial protections in the increasingly complex financial system still place the onus on individuals to sift through fine print for assurance that they are not vulnerable to predatory lending and other pitfalls of consumer financing and growing debt.
In Democracy Declined, Mallory E. SoRelle argues that the failure of federal policy makers to curb risky practices can be explained by the evolution of consumer finance policies aimed at encouraging easy credit in part by foregoing more stringent regulation. Furthermore, SoRelle explains how angry borrowers' experiences with these policies teach them to focus their attention primarily on banks and lenders instead of demanding that lawmakers address predatory behavior. As a result, advocacy groups have been mostly unsuccessful in mobilizing borrowers in support of stronger consumer financial protections. The absence of safeguards on consumer financing is particularly dangerous because the consequences extend well beyond harm to individuals-they threaten the stability of entire economies. SoRelle identifies pathways to mitigate these potentially disastrous consequences through greater public participation.
Table of Contents
List of Abbreviations
1. Democracy Declined: The Failed Politics of Consumer Financial Protection
2. Full Disclosure: Building the U.S. Political Economy of Credit
3. "Storming Mad" but Staying Home: Depoliticizing the American Borrower
4. The "Horseless Headmen": Consumer Groups and the Challenge of Political Mobilization
5. Democratization and Its Discontents: Demobilizing Marginalized Borrowers
6. Race to the Bottom: Administrative Rulemaking in the Political Economy of Credit
7. A New Lease? The Uncertain Political Future of Consumer Financial Protection
Acknowledgments
Data Appendix
Notes
References
Index
by "Nielsen BookData"