2-22 The Regulation of Nonbank Financial-Service Firms Competing with Banks (continued) Finance Companies.
{"Image DocumentName": "2-22The Regulation of Nonbank Financial-Service Firms Competing with Banks (continued) Finance Companies.", "Image ImageDescription": "Regulated at the state government level for many decades. The depth of state regulation varies across the United States. Most states focus upon the types and contents of loan agreements they offer the public, the interest rates they charge (with some states setting maximum loan rates), and the methods they use to repossess property or to recover funds from delinquent borrowers. Relatively light state regulation has led to a recent explosion in the number of small-loan companies. The passage of the Dodd-Frank Act in 2010 caused many to close as the maximum interest rates that these entities could charge was drastically reduced. Copyright \u00a9 2013 The McGraw-Hill Companies, Inc. Permission required for reproduction or display.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}