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Paradigms in Consumer Credit Regulation

In: Nigerian Consumer Credit

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Listed:
  • Philemon Iko-Ojo Omede

    (Veritas University)

Abstract

Chapter two set out the broad rationale for regulatory intervention in consumer creditConsumer credit markets. The chapter showed that the neoliberal approach to consumer borrowerConsumer borrowers protection consisted of two broad objectives: correcting market failuresMarket failure and preventing systemic riskSystemic risk. Market failureMarket failure under this paradigm was narrowly understood to mean the lack of competitionCompetition in the market (e.g. monopoly and coordination amongst suppliers of credit services), believed to be the consequence of information asymmetryInformation asymmetry.

Suggested Citation

  • Philemon Iko-Ojo Omede, 2022. "Paradigms in Consumer Credit Regulation," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Nigerian Consumer Credit, chapter 0, pages 149-185, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-031-11740-4_5
    DOI: 10.1007/978-3-031-11740-4_5
    as

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