Consumer Credit

February 10, 1956

Report Outline
Uneasiness Over Growth of Consumer Dest
Expansion of Consumer Credit in Prosperity
Consumer Credit and Economic Stability
Special Focus

Uneasiness Over Growth of Consumer Dest

Eisenhower on Regulation of Instalment Credit

Rapid expansion of consumer credit during the past year has brought expressions of mounting uneasiness from many observers. The uneasiness was reflected in a suggestion by President Eisenhower, in the Economic Report to Congress on Jan. 24, that it would be wise to consider arming the government with standby authority to regulate instalment buying. The President felt that in order to “promote stable economic growth, it would be desirable to increase the influence that the federal government can exercise on consumer credit.” He said:

In view of the increasing importance of the durable consumer goods industries in our economy and their marked tendency to fluctuate, consideration should be given to restoring the government's power to regulate the terms of consumer instalment credit …

Experience during the recent past suggests that the authority to set, if and as circumstances may require, minimum down payments and maximum maturities on instalment credit for the purchase of consumer durables would be a useful adjunct to other stabilizing measures.

ISSUE TRACKER for Related Reports
Credit and Consumer Debt
Jul. 20, 2012  Debt Collectors
May 17, 2011  Future of the Euro
Oct. 10, 2008  Regulating Credit Cards
May 09, 2008  Financial Crisis
Mar. 02, 2007  Consumer Debt
May 26, 2006  Teen Spending
Nov. 19, 1999  The Consumer Culture
Nov. 15, 1996  Consumer Debt
Sep. 13, 1985  America in Debt
Jan. 25, 1980  Consumer Debt
Apr. 11, 1975  Consumer Credit Economy
Jan. 12, 1972  Directions of the Consumer Movement
Nov. 10, 1965  Personal Debt in a Consumer Economy
Jan. 02, 1957  Tight Credit
Feb. 10, 1956  Consumer Credit
Mar. 30, 1949  Installment Credit
Aug. 09, 1941  Restriction of Consumer Credit
Jan. 28, 1941  The Big Business of Making Small Loans
Jan. 17, 1934  Federal Credit Aid for Consumers
Jan. 01, 1930  Installment Buying, 1920–1930
Consumer Behavior
Consumer Credit and Debt