The Roaring Twenties And The Birth Of Consumer Credit - Martha Olney
The Joe Walker Podcast
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The Rise of Consumer Credit in the 1920s
Most of the consumer credit that was being issued in the 1920s was installment credit and it did not come from banks. Most of the installment debt came through what were called sales finance companies. In England they referred to it as higher purchase, H-I-R-E, so higher purchase. And in the US it would be called installment credit. But those were the same, whatever reason, two different names for the same thing.
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