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- Title
Increasing Microlending Potential in the United States Through a Strategic Approach to Regulatory Reform.
- Authors
Richardson, Molly
- Abstract
The article focuses on the history of microcredit in the U.S. and demands promising solutions that center on regulatory reform to increase microlending potential in the U.S. It is stated that microfinance institutions (MFIs) have offered economic opportunities to needy people, by lending small amounts of capital to borrowers. MFIs began lending in the U.S in 1980s and expanded in 1990s, leading to a presence of nonprofit lenders is facing numerous challenges because of recession which have resulted in job losses. Since MFIs are not so successful in the U.S., it is vital to look for regulatory reforms that center on minimum capital requirements and usury laws, as it will help the MFIs of the U.S. become more profitable.
- Subjects
UNITED States; MICROFINANCE; REGULATORY reform; FINANCIAL services industry; MONEYLENDERS; ECONOMIC opportunities; RECESSIONS; USURY laws; CAPITAL requirements
- Publication
Journal of Corporation Law, 2009, Vol 34, Issue 3, p923
- ISSN
0360-795X
- Publication type
Article