Financial Privacy, Consumer Prosperity, and the Public Good (Paperback, New)

American consumers have become accustomed to obtaining instant credit, which is possible only because credit bureau allow quick verification of the creditworthiness of borrowers. In order to work, however, this process requires credit bureau to have access to sensitive financial information about individuals, compiled largely without their consent. In 1996, Congress amended the Fair Credit Reporting Act (FCRA) to allow credit bureaus to continue these practices, superseding state laws that might have obstructed them. With the expiration of these amendments in 2004, many states are suggesting that new amendments to the FCRA allow them to impose their own restrictions on the use and content of credit reports. regulating credit bureau. How this controversy is resolved will have an important bearing on the operation of credit markets and financial privacy in the future. The authors make the case for continued federal preemption of the states in this area. Without it, the authors argue, the consumer credit system that has developed in the US will be put in jeopardy.

General

Imprint:	Brookings Institution Press
Country of origin:	United States
Release date:	July 2003
First published:	July 2003
Authors:	Fred H Cate • Robert E Litan • Michael Staten • Peter J Wallison
Dimensions:	216 x 139 x 6mm (L x W x T)
Format:	Paperback
Pages:	36
Edition:	New
ISBN-13:	978-0-8157-1317-3
Categories:	Books > Law > Laws of other jurisdictions & general law > Civil law (general works)
LSN:	0-8157-1317-7
Barcode:	9780815713173

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