Introduction to the 2012 Annual Survey of Consumer Financial Services Law

摘要

As has been observed in previous Introductions to the Annual Survey of Consumer Financial Services Law,1 the mortgage and housing markets began to contract in 2006 and the intervening six years have ushered in an economic recession and a pattern of slow growth that continues to this day. Economic conditions since 2006 have been tagged with various descriptive terms, including such things as "the Great Recession," "the Great Credit Contraction," and more. One thing that is clear is that the effects have been unusually severe and long-lasting, and have spread worldwide.