No Slack: The Financial Lives of Low-Income Americans - Couverture souple

Barr, Michael S.

Couverture souple

ISBN 10 : 0815733682 ISBN 13 : 9780815733683

Editeur : Brookings Institution Press, 2012

Synopsis

The financial crisis exposed the potentially unsavory results of the interaction between low- and moderate income households and alternative and mainstream financial institutions. Many households were overleveraged or paid high costs for financial services, while others lacked access to useful financial products that can cushion against economic instability. The financial services system is not well designed to serve low- and moderate-income households, leaving them without financial slack: they did not have adequate breathing room for making the financial adjustments that would permit them to better meet their own needs. No Slack shows us why these families were the least prepared to handle the shock of the deep recession.
This pivotal analysis focuses on the Detroit metropolitan area's low- and moderate-income neighborhoods, which are similar to those of other Rust Belt communities. The Detroit Area Household Financial Services study—conducted at the height of the subprime lending boom—examines these households' decisionmaking processes, behaviors, and attitudes toward a full range of financial transactions.
No Slack reveals widespread problems in home mortgage lending, the common threads among people who file for bankruptcy, the reasons so many households are unbanked, and how behaviorally informed financial regulation can make the market work better. Drawing on his deep policy experience, Michael Barr advocates helping families seek financial stability in three primary ways: enhancing individuals' financial capability, using technology to promote access to financial products and services that meet their needs, and establishing strong protections for consumers.

A propos du livre

À propos de l?auteur

Michael S. Barr is an assistant professor at the University of Michigan Law School and a nonresident senior fellow in Metropolitan Policy at the Brookings Institution. He served as chair and now is on the Executive Committee of the Section on Financial Institutions of the Association of American Law Schools, and he was co-organizer of the Law School's Conference on Globalization, Law & Development.

Détails de l'édition

• Éditeur: Brookings Institution Press
• Date d'édition: 2012
• Langue: anglais
• ISBN 10: 0815733682
• ISBN 13: 9780815733683
• Reliure: Broché
• Nombre de pages: 305
• Coordonnées du fabricant: non disponible
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