Working Paper
New Evidence on an Old Unanswered Question : Why Some Borrowers Purchase Credit Insurance and Other Debt Protection and Some Do Not
Elliehausen, Gregory E.; Durkin, Thomas A. (2017-12-18)
Credit related insurance and other debt protection are products sold in conjunction with credit that extinguish a consumer?s debt or suspends its periodic payments if events like death, disability, or involuntary unemployment occur. High penetration rates observed in the 1950s and 1960s raised concerns about coercion in the sale of credit insurance. This study presents evidence on credit insurance purchase and debt protection decisions from a new survey. The findings provide little evidence of widespread or systematic coercion in purchases. Instead, findings suggest that risk aversion and ...
Finance and Economics Discussion Series , Paper 2017-122

Journal Article
Choosing a Credit Counseling Agency
Community Development, Federal Reserve Bank of Dallas (2007)
Consumers can go online to get advice about choosing the right agency.
e-Perspectives , Volume 7 , Issue 3

Journal Article
Get Checking Launches in Houston
Community Development, Federal Reserve Bank of Dallas (2006)
Access to mainstream financial services is on the horizon for unbanked and underbanked consumers in Houston through Get Checking(TM), a national initiative sponsored by eFunds Corp. and the University of Wisconsin Extension.
e-Perspectives , Volume 6 , Issue 4

Journal Article
Credit Counseling: In Person, By Phone or Online
Community Development, Federal Reserve Bank of Dallas (2007)
A recent study finds that telephone and face-to-face counseling can be equally effective and appear to generate equivalent outcomes for consumers' creditworthiness two years later. The increase in telephone and online counseling may encourage consumers to seek earlier assistance for their credit and debt problems.
e-Perspectives , Volume 7 , Issue 3

Journal Article
Dallas Fed Updates Building Wealth
Community Development, Federal Reserve Bank of Dallas (2007)
The latest buzz in the Dallas Fed's Community Affairs Department is the release of a revised and expanded edition of the Bank's hallmark personal finance education resource, Building Wealth.
e-Perspectives , Volume 7 , Issue 1

Working Paper
Is It Still an Econ Course? The Effect of a Standardized Personal Finance Test on the Learning of Economics
Day, Stephen; Nunes, Evelyn; Sultanum, Bruno (2022-03-31)
We study the implications of mixing economics and personal finance standardsin a high school course. Using administrative, survey, and testing data on collegestudents, we find evidence that personal finance instruction crowds out economicsinstruction. We find that students who received more instruction in economics scorealmost 5% higher on an economics test. Furthermore, we estimate the effect of beingassigned a certification test in personal finance as a part of this course. The effect ofthe certification test is not uniform across students. The test reduces the economicsscores of students ...
Working Paper , Paper 22-03

Journal Article
New Scrutiny for Consumer Credit Counseling Industry
Community Development, Federal Reserve Bank of Dallas (2007)
Government actions, combined with oversight and standardization from industry organizations, benefit consumers by enabling them to more easily identify agencies that work in their best interest and are certified to provide them with quality financial education.
e-Perspectives , Volume 7 , Issue 3