Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 22, 2011 erstellt
Beschreibung:
This paper will discuss the history of usury and how usury effectively died with the United States Supreme Court decision in Marquette National Bank v. First of Omaha Service Corporation. Following a discussion of both the criticisms and the support of the Marquette decision, this paper will then describe how the death of usury has led to the democratization of credit and how the democratization of credit has affected the American financial market. The public response to the democratization of credit will also be explored. Using data published by the Federal Reserve I will then analyze the change in financial well being for the American consumer since the Marquette decision. After describing the change in financial well being of the American consumer, this paper will briefly discuss solutions proposed by academia, such as the Consumer Financial Protection Bureau and the reinstitution of effective usury law