This Note will examine improvident extension of credit as an extension of unconscionability in consumer credit card lending. Part II of this Note will discuss the history and foundation of unconscionability. Part III will discuss the history and foundation of improvident extension of credit, as well as the many failed attempts to create a solution to the problem of improvident extension of credit in the United States. Part IV of this Note will analyze the current role of improvident lending in consumer credit and why no solution was reached in the 1970s. Part V will examine the increased need for consumer protection in the last few decades. Part VI will discuss the inadequate solutions proposed to resolve the issue of improvident extension of credit in society. Part VII will examine Discover Bank v. Owens, a recent case holding in favor of a debtor. Finally, Part VIII will discuss the need to readdress the lack of statutory law on the subject of improvident extension of credit and offer several possible solutions.
Note, Improvident Extension of Credit as an Extension of Unconscionability: Discover Bank v. Owens and a Debtor's Rights against Credit Card Companies, 54 Clev. St. L. Rev. 435