Consumer Credit Regulation: 1.4.3.1 Introduction
Proponents of deregulation assert that regulation deprives needy borrowers of credit. This assumption, too, appears faulty. Dire predictions that over-regulation will deprive consumers of access to credit are not new. Virtually every existing consumer credit protection, when enacted, was criticized as limiting the supply of credit.126 These predictions almost invariably lack credible empirical support and fail to materialize once the legislation is adopted.127