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Working Paper
Charging up a mountain of debt: households and their credit cards.
Yoo, Peter S. (1996)
I use the Surveys of Consumer Finances conducted in 1983, 1989 and 1992 to separate the growth of credit card debt into two categories, changes in the number of households with credit cards and changes in households credit card debt. I can then account for the relative contributions of increases in credit card availability, number of households, and average credit card debt. I also use the household income information to quantify the impact of more lower income households with credit cards. Data suggest that the increases in credit card debt is largely attributable to increased average credit ...
Working Papers , Paper 1996-015

Working Paper
The Economics of Debt Collection: Enforcement of Consumer Credit Contracts
Hunt, Robert M.; Fedaseyeu, Viktar (2018-01-29)
Creditors often outsource the task of obtaining repayment from defaulting borrowers to third-party debt collectors. We argue that by hiring third-party debt collectors, creditors can avoid competing in terms of their debt collection practices. This explanation fits several empirical facts about third-party debt collection and is consistent with the evidence that third-party debt collectors use harsher debt collection practices than original creditors. Our model shows that the impact of third-party debt collectors on consumer welfare depends on the riskiness of the pool of borrowers and ...
Working Papers , Paper 18-4

Discussion Paper
A tale of two vintages: credit limit management before and after the CARD act and Great Recession
Santucci, Lawrence (2015-02-18)
This paper uses tradeline-level credit card data to examine initial credit limits and early credit limit increases before and after the Great Recession and implementation of the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (the CARD Act). I compare two vintages of credit card accounts, those opened in 2005 and 2011; I also follow each vintage for more than two years after the account opening. In general, I find that significantly less credit was extended to approved credit card applicants in 2011 than in 2005. Accounts in the 2011 vintage started out with lower ...
Consumer Finance Institute discussion papers , Paper 15-1

Working Paper
Potential competitive effects on U.S. bank credit card lending from the proposed bifurcated application of Basel II
Lang, William W.; Vermilyea, Todd A.; Mester, Loretta J. (2005)
This paper analyzes the potential competitive effects of the proposed bifurcated application of Basel II capital regulations in the United States on bank credit card lending activities. For this purpose, the authors consider the Basel II regulations as stated in the June 2004 Basel Committee Framework Agreement. ; Also issued as Payment Cards Center Discussion Paper No. 05-21 ; Superseded by Working Paper 07-09
Working Papers , Paper 05-29

Discussion Paper
Balances Are on the Rise—So Who Is Taking on More Credit Card Debt?
Haughwout, Andrew F.; Lee, Donghoon; Mangrum, Daniel; Scally, Joelle; Van der Klaauw, Wilbert (2022-11-15)
Total household debt balances continued their upward climb in the third quarter of 2022 with an increase of $351 billion, the largest nominal quarterly increase since 2007. This rise was driven by a $282 billion increase in mortgage balances, according to the latest Quarterly Report on Household Debt & Credit from the New York Fed’s Center for Microeconomic Data. Mortgages, historically the largest form of household debt, now comprise 71 percent of outstanding household debt balances, up from 69 percent in the fourth quarter of 2019. An increase in credit card balances was also a boost to ...
Liberty Street Economics , Paper 20221115b

Journal Article
Statement to Congress, September 24, 1997, (debit cards and unsolicited \\"loan checks\\")
Meyer, Laurence H. (1997-11)
Federal Reserve Bulletin , Issue Nov , Pages 884-887

Discussion Paper
Maintaining a safe environment for payment cards: Examining evolving threats posed by fraud
Herbst-Murphy, Susan (2009)
On April 23 and 24, 2008, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Funds Transfer Association jointly hosted "Maintaining a Safe Environment for Payment Cards: Examining Evolving Threats Posed by Fraud." The conference included panels representing four key constituencies: issuers, consumers, merchants/acquirers, and networks. The panelists addressed the nature of payment card fraud in the 21st century. This paper summarizes the highlights from the presentations and the discussions that ensued.
Consumer Finance Institute discussion papers , Paper 09-01

Working Paper
The choice at the checkout: quantifying demand across payment instruments
Kiser, Elizabeth K.; Borzekowski, Ron (2006)
Dramatic changes have occurred in the U.S. payment system over the past two decades, most notably an explosion in electronic card-based payments. Not surprisingly, this shift has been accompanied by a series of policy debates, all of which hinge critically on understanding consumer behavior at the point of sale. Using a new nationally representative survey, we transform consumers' responses to open-ended questions on reasons for using debit cards to estimate a characteristics-based discrete-choice demand model that includes debit cards, cash, checks, and credit cards. Market shares computed ...
Finance and Economics Discussion Series , Paper 2006-17

Journal Article
Has widespread use of credit cards contributed to the increase in personal bankruptcy?
Stavins, Joanna (2001-10)
Regional Review , Issue Q4 2000 / Q1 2001 , Pages 4-7

Report
Do Consumers Rely More Heavily on Credit Cards While Unemployed?
Cole, Allison (2016-12-20)
Leading up to the Great Recession, households increased their credit card debt by over 16 percent ($121 billion) during the five-year period from 2004 to 2009. The unemployment rate simultaneously began to rise in 2008, increasing from 5.0 percent in January 2008 to a high of 10.0 percent in October of 2009. During the recovery, from 2009 to 2014, credit card debt fell by more than 25 percent, as the unemployment rate returned to near prerecession levels. These coincident developments have led to speculation that consumers facing unemployment or job uncertainty may have increased their ...
Consumer Payments Research Data Reports , Paper 2016-06

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