Carruthers, Bruce G.; Guinnane, Timothy W.; Lee, Yoonseok - Economic Growth Center, Economics Department - 2009
The Uniform Small Loan Law (USLL) was the Russell Sage Foundation’s primary device for fighting what it viewed as the scourge of high-rate lending to poor people in the first half of the twentieth century. The USLL created a new class of lenders who could make small loans at interest rates...