Marketplace Justice for American Immigrants

Abstract

Immigrants to the United States often find it particularly difficult to establish credit histories and avail themselves of tradition credit options such as bank loans, credit cards, equity lines of credit, and deferred payment plans. As is the case with low income consumers, immigrants are often drawn to the fringe banking sector for credit availability. This comes at considerable cost and is not always in the best interests of consumers. This paper examines the credit alternatives most often used in immigrant communities and analyzes the legal framework for each.

Keywords: consumer, credit, consumer credit, immigrant, low income, fringe banking, banking