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"Conclusion" [2019] ELECD 2506; in Brown, Sarah (ed), "The Regulation of Consumer Credit" (Edward Elgar Publishing, 2019) 220

Book Title: The Regulation of Consumer Credit

Editor(s): Brown, Sarah

Publisher: Edward Elgar Publishing

Section: Chapter 8

Section Title: Conclusion

Number of pages: 7

Abstract/Description:

This chapter provides a conclusion to the arguments and themes explored in the book. The examination of these two systems shows us that consumer credit protection remains intertwined with protection of the market in policy thinking. The characteristics of the parties of the consumer credit relationship are all important, and are multidimensional. It must be recognised that lender and borrower interests are, to a degree, interdependent – the consumer credit relationship being the conduit through which these interests are channelled. A number of interconnected issues pervade the consumer credit relationship: trust and culture; protection initiatives based in market efficiency; access to credit; approaches to regulation; and roles and extent of creditor responsibility. Consumer protection in credit provision illustrates the difficulty in adequately addressing the balance that needs to be maintained in what are, in many respects, opposing needs. Clearly regulatory protections are essential, but what the comparison has shown us is that a more balanced approach may ultimately be the better approach.