Yes,microcredit is subject to proper regulation.Considering the point of microcredit is for communities to lend to each other then it is appropriate that it is not subject to much regulation.Plus the small amounts involved really aren't practical for a lot of extraneous regulation that would not make much difference anyway.
Microcredit is subject to proper regulation. Microcredit is the extension of very small loans to impoverished borrowers who typically lack collateral, steady employment and a
verifiable credit history. Microcredit is supposed to help people get through tough times but some complaints are flowing in about scandals that are happening to the people that take these loans.
No, microcredit is not subject to proper regulation, because it is services to the poor, and services to the poor are easily misused and abused. One only need to look at the number of payday loan services and the interest rates that they charge to know that the poor are easily taken advantage of. Because microcredit services the poor, they need more oversight in order to make sure they are regulated enough.
In reality, we should have the government more strictly regulate microcredit because people continue to abuse this system. Microcredit doesn't face the same regulations as larger credit lines, which causes problems for people when companies try to take advantage of them. Therefore, more regulations are needed in this area immediately.
Payday loan sharks are horrible creations in contemporary America. They loan a few hundred bucks but then ask for ultra-high interest if the loan isn't paid off right away. More needs to be done to prevent the predatory practices that payday loan places use against customers. The service is great, but the price paid is sometimes way too high.