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dc.rights.licenseIn Copyrighten_US
dc.creatorBollheimer, Stephanie
dc.date.accessioned2013-12-03T13:09:44Z
dc.date.available2013-12-03T13:09:44Z
dc.date.created2009
dc.date.issued2009
dc.identifier.urihttp://hdl.handle.net/11021/24173
dc.descriptionStephanie N. Bollheimer is a member of the Class of 2009 of Washington and Lee University.en_US
dc.descriptionCapstone; [FULL-TEXT FREELY AVAILABLE ONLINE]en_US
dc.description.abstractPredatory payday lenders and credit card companies target lower income earners. Wage earners who utilize these services spend a disproportionate amount of money on interest and late fees. Therefore, these low earners have even less money to pay for basic life necessities. Consumer education, which begins at the elementary school level, is a technique to make low-income persons more knowledgeable about saving, borrowing and money management. This education will provide lower income earners the skills to make informed choices about credit. Clear, direct and obvious disclosure of financial terms will also assist the credit consumer to make informed choices. Therefore, government regulation of transparency laws should be reviewed to strengthen requirements placed upon credit marketing materials. Nation wide studies have revealed that low-income consumers are subject to predatory interest rates above and beyond a fair return for the creditor. If federal regulations were instituted to established a national cap, it would close the gap left open by current state and federal usury deregulation. If traditional financial institutions were given state and federal incentives to serve and locate branches within low-income neighborhoods, the residents would have ready access to traditional and regulated banking services, which may increase market competition. [From Conclusion]en_US
dc.format.extent32 pagesen_US
dc.language.isoen_USen_US
dc.rightsThis material is made available for use in research, teaching, and private study, pursuant to U.S. Copyright law. The user assumes full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used should be fully credited with the source.en_US
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en_US
dc.subject.otherWashington and Lee University -- Capstone in Shepherd Poverty Programen_US
dc.titlePredatory Lending: Payday Lenders and Credit Card Companiesen_US
dc.typeTexten_US
dc.rights.holderBollheimer, Stephanie
dc.subject.fastPredatory lendingen_US
dc.subject.fastCredit card feesen_US
dc.subject.fastInterest ratesen_US
dc.subject.fastFinance, Personalen_US
dc.subject.fastUsury lawsen_US
dc.subject.fastShipler, David K., 1942-en_US


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