Creditworthiness and 'Responsible Credit'

A Comparative Study of EU and US Law

Series: 

Author:
Noah Vardi
Responsible credit is a policy much discussed by legislators and stakeholders, especially in the aftermath of the global financial crisis of 2007-2008. Creditworthiness and “Responsible Credit” questions how this policy currently finds implementation in EU and US law and the principal instruments used for this scope, including the duty of creditworthiness assessment of borrowers. Noah Vardi analyzes the fundamental and often overlooked notion of “creditworthiness” from a comparative perspective and examines the critical interaction between policies of access to credit, financial inclusion, and responsible lending.
Copyright Year:
2022
E-Book (PDF)
Availability:
Published
ISBN:
978-90-04-52505-4
Publication:
12 Sep 2022
Hardback
Availability:
Published
ISBN:
978-90-04-52290-9
Publication:
11 Aug 2022
Cover Creditworthiness and 'Responsible Credit'

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Noah Vardi, Ph.D. (2005), University of Verona, is Associate Professor of Comparative Law at the Roma Tre University. Her research focuses on European private law, financial markets, banking and payment systems, and the law of money and cryptocurrencies. Her publications include the monograph The Integration of European Financial Markets: The Regulation of Monetary Obligations (Routledge, 2010).
AcknowledgmentsI

1 Introduction: Creditworthiness and ‘Responsible Credit’
 Introduction
 1.1 Defining ‘Responsible Credit’
 1.2 Responsible Credit and the Global Financial Crisis
 1.3 Profiles of Relevance of Responsible Credit
 1.4 Creditworthiness
 1.5 Caution and Criticisms
 1.6 Methodology
 1.7 Structure of the Book

2 Creditworthiness Assessment as a Macroprudential Duty
 Introduction
 2.1 Responsible Credit as a Macroprudential Duty: The Duty of Creditworthiness Assessment in Banking Regulation
 2.2 Credit Assessments and Credit Rating
 2.3 A Few Final Observations: Inferences from the Comparison of Regulatory Choices and Issues Surrounding a Hypothetical ‘Right to a Creditworthiness Assessment’

3 Creditworthiness for Individuals: Methodologies and Legal Issues
 Introduction
 3.1 Creditworthiness Assessment and Credit Reporting
 3.2 Data Protection and Antidiscrimination: Comparative Legal Issues
 3.3 Small Business Lending and Credit Scoring
 3.4 Comparative Overview and Conclusive Remarks on Credit Scoring and Responsible Lending

4 Creditworthiness Assessment and Other Contractual Duties as Tools of ‘Responsible Credit’: the Case of Consumer Loans
 Introduction
 4.1 Creditworthiness Assessment in Consumer Credit Contracts and Mortgage Loan Contracts
 4.2 Effects of the ‘Responsible Lending’ Provisions on Contract Law
 4.3 Instruments for the Enforcement of ‘Responsible Credit’ Provisions
 4.4 A Few Conclusive Comparative Remarks

5 Access to Credit and Responsible Lending
 Introduction
 5.1 The ‘Democratization of Credit’
 5.2 Access to Credit as a Policy for Consumers and the Problem of Financial Exclusion
 5.3 Access to Credit as a Right? Theorizing ‘Due Process’ in Access to Credit
 5.4 Access to Credit and the Right to Housing
 5.5 Responsible Credit as a Protective Duty and a Tool for Inclusion
Bibliography
The book is a research monograph, whose primary audience is the international academic market; however the book may be of interest also to finance specialists and bankers; and can be used for courses or seminars at a graduate level in any the following topics: banking law, consumer contracts, big data/algorithmic decision making, private comparative law.
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