Regulation of short-term consumer credits
Takalo, Tuomas (2019)
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The regulation of short-term consumer credit markets is heatedly debated around the world. This article uses economic research as a basis for a qualitative assessment of the regulation of the short-term consumer credit market and discusses the experience of the recent regulations implemented in Finland. According to research, the interest rate ceiling is an inefficient way of regulating the short-term consumer credit market. In contrast, the regulations should be based on price transparency and results from behavioral economics.
Banking regulation, Interest rate caps, Payday lending, Credit markets, Financial stability