federal preemption
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Arkansas has been a popular place to study the effects of rate ceilings because of its exceptionally low interest rate ceiling. This paper examines the effects of the Arkansas rate ceiling on credit use by risky nonprime Arkansas consumers, which are especially vulnerable to credit rationing because of the low ceiling. We compare the level and composition of consumer debt of nonprime consumers in Arkansas with that of prime Arkansas consumers and also nonprime consumers in the neighboring states. We find that nonprime Arkansas consumers are less likely to have consumer debt and, conditional on having debt, have lower, but not much lower, levels of consumer debt than prime Arkansas consumers and nonprime consumers in neighboring states. Types of credit used by nonprime Arkansas consumers tend to differ from those of our comparison groups. Notable is much lower use of consumer finance loans, traditionally an important source of credit for higher risk consumers. This finding suggests rate-based rationing of risky consumers. Also notable is lower use of bank credit despite federal preemption of the rate ceiling for banks. This result is consistent with banks’ traditional avoidance of risky lending.

This chapter examines the role of the Constitution in federal government, defines federalism, and explains the types of federal preemption at play in public health policy. The chapter begins with an exploration of the US Constitution; it explains the Constitution’s history and the role that the Constitution plays in public health policy formation. The chapter next defines the concept of federalism and details the Supremacy Clause and the 10th Amendment. It briefly discusses the division of labor and authority between state/local governments and the federal government regarding public health laws. Lastly, the chapter delves into the concept of federal preemption. It applies the concepts of preemption to an in-depth example involving tobacco regulation; this example explores both express and implied preemption.

The trucking industry faces a number of issues as it tries to meet growing demand for services. Trucking services are stifled by three factors: (1) strict enforcement of hours of service requirements which preclude carriers from meeting scheduled appointments; (2) over-the-road driver shortages; and (3) the absence of tort reform or federal preemption to trump nuclear judgments which reach upstream to shippers and brokers. However, rail may be an alternative for a growing number of commodities. This article examines the viability of rail services for the wine industry.