The law of secured credit is both very important and very complex. Perhaps because of this, law students, lawyers, judges, and lawmakers struggle to master its many nuances. Secured credit law may not have the initial appeal that criminal or constitutional law hold in the minds of many, but it forms the backbone of everything from day-to-day consumer transactions to large-scale commercial financing, both around the corner and across the world.

'The systems approach we employ in this book looks at more than just law. Law is one of many elements that together constitute the secured credit system. To teach the law without teaching the system in which it is embedded would deprive the law of much of its meaning and make it more difficult to understand.' - Lynn LoPucki and Elizabeth Warren Fully incorporating the new Article 9 of the UCC, this substantially revised edition of the groundbreaking text continues to simplify the conceptually complex policies of the secured credit system with an innovative systems approach. By exploring secured transactions and investment securities in a series of assignments and problems, students are empowered to focus on secured transactions as one aspect of a larger system - thus facilitating learning and comprehension of the material. What makes this casebook stand out from the rest? Expert authorship - renowned authors Lynn LoPucki and Elizabeth Warren draw on their years of legal scholarship and teaching excellence to refine and extend their systems approach Uses the author's unique and innovative systems approach - treating secured credit as a system with subsystems that work together to accomplish the system's principal goal A combination of traditional application and open-ended theoretical problems are presented in the order of difficulty - with the most difficult problems focusing on an actual practice setting to enhance student learning Each assignment is appropriate for a 50-60 minute class, contains carefully-selected problems that involve students in case strategy and planning, and includes all the information needed to answer the problems New To The Third Edition: Incorporates the new Article 9 (Secured Transactions of the UCC throughout the entire text Updated cases and problems reflect recent legal trends and developments A thoroughly revised Teacher's Manual in every chapter

McCormack examines English law on Secured Credit, highlighting its weaknesses, and evaluating possible remedies. Contains the text of Article 9.

In this paper, we present a brief exposition of the history of the secured credit card, beginning with its origins in California in the 1970s. We present a series of stylized facts based on a December 2015 cross section of the secured card market. We find that most secured cards require an annual fee, tend not to have promotional offers or rewards, and often have higher purchase annual percentage rates than their unsecured counterparts. We also find that the percentage of secured card accounts in a delinquency status is more than double that of unsecured cards and that far fewer secured cards are inactive compared with unsecured cards. In addition, the annual income of secured card consumers is about 43 percent lower than unsecured card consumers. Last, we examine how the credit scores of consumers opening a secured card account change during the first two years of account history. We find that keeping a secured card account open is correlated with improved creditworthiness, while closing an account, either in good standing or in default, is correlated with significantly reduced creditworthiness.

This book will be of great interest to practitioners, policymakers and academics, as well as students, particularly postgraduate students, of law and business throughout the world.

"Cases, materials, and problems for the law school course called Secured Credit, Secured Transactions, or Article 9"--

This problem-based casebook uses assignment-sized modules to explore creditor relationships and transactions between creditors and debtors. Completely updated, Secured Credit, Fourth Edition, gives students a solid foundation in this important area. When you examine this new edition, be sure to notice its: extraordinary authorship Lynn M. LoPucki and Elizabeth Warren are experts in the field effective use of the systems approach by examining how the law is applied in actual transactions, The authors put the Code in context teachable problems, preceded by straightforward text and cases organization by assignment units, which makes the book flexible and adaptable cutting-edge coverage of today's most important topics careful review of the intersection of secured transactions and bankruptcy in addition to conforming To The Revised Article 9, The Fourth Edition offers new cases that explore interesting issues: in re Shirel is a credit card application sufficient to grant a security interest? in re Grabowski is a financing statement sufficient to perfect a security interest? Omega Environmental, Inc. v. Valley Bank, N.A. Is a nonnegotiable certificate of deposit an instrument as defined under UCC Article 9? in re Eschenbach What constitutes proper notice of a federal tax lien on personal property? If you haven't tried the systems approach to teaching secured credit, The new edition of LoPucki and Warren's exceptional casebook is a powerful reason to reconsider.