American-Soviet relations grew chilly, but the meaning of the rivalry remained disputable. Again and again, Americans have asked why the most fragile borrowers face the highest costs for access to the smallest loans.

. Your recently viewed items and featured recommendations has been added to your Cart You could not be signed in. Find all the books, read about the author, and more. This tension is at the heart of Anne Fleming’s City of Debtors, a vivid, balanced, and careful book that examines a century of efforts by reformers, lenders, and activists to strike the right balance in protecting borrowers against predation by lenders while not excessively constraining the availability of small-dollar credit.
Again and again, Americans have asked why the most fragile borrowers face the highest costs for access to the smallest loans.

Oxford University Press is a department of the University of Oxford. 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.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.Anne Fleming is Associate Professor of Law at the Georgetown University Law Center.Appendix: Annotated Timeline of Major Legislation and Rules 257Fleming’s fascinating, carefully researched study reveals the pivotal role New York played in the development of consumer-credit regulation.

“ Anne Fleming’s pathbreaking narrative of small-sum lending in New York City brings alive loan sharks, lenders seeking respectability, reformers, crusading lawyers, and the debtors themselves, all while focusing on a problem that plagues us to this day: the poor need money desperately, have little credit to obtain it, and thus are easy marks for exploitation. Amazon calculates a product’s star ratings based on a machine learned model instead of a raw data average. 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. The regulation of small-dollar loans to marginalized borrowers had … We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. The reader comes out with a much deeper understanding of the shadowy, constantly changing landscape at the edges of standard finance and economic daily life.Fleming has taken a fragmented history and turned it into a compelling narrative, about not only fringe lending but also the fraught relationship that Americans have long had with consumer debt, and specifically its role in poverty alleviation.

City of Debtors A Century of fringe fin AnCe Anne fleming Cambridge, Massachusetts London, England 2018 Fleming_Final_pps.indd 3 8/22/17 1:30 PM In City of Debtors: A Century of Fringe Finance, Anne Fleming, a professor of law at Georgetown University, examines the ways in which a society that accepts the market as the fundamental basis of economic life copes with the inequalities the market creates. Again and again, Americans have asked why the most fragile borrowers face the highest costs for access to the smallest loans.

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