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Journal Article
Fighting home equity fraud and predatory lending: one community's solution
Potter, Joan (2000-07)
This special issue, CR Report, focuses on one community's efforts to fight home equity fraud and predatory lending.
Community Reinvestment Report , Issue Sum

Journal Article
Recent developments in instalment credit
anonymous (1950-11)
Federal Reserve Bulletin , Issue Nov , Pages 1427-1436

Working Paper
Consumer choice and merchant acceptance of payment media
Bolt, Wilko; Chakravorti, Sujit (2008)
We study the ability of banks and merchants to influence the consumer's payment instrument choice. Consumers participate in payment card networks to insure themselves against three types of shocks -- income, theft, and their merchant match. Merchants choose which payment instruments to accept based on their production costs and increased profit opportunities. Our key results can be summarized as follows. The structure of prices is determined by the level of the bank's cost to provide payment services including the level of aggregate credit loss, the probability of theft, and the timing of ...
Working Paper Series , Paper WP-08-11

Working Paper
A New Look at the Effects of the Interest Rate Ceiling in Arkansas
Elliehausen, Gregory E.; Hannon, Simona; Miller, Jr., Thomas W. (2023-05-05)
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 nonprime consumers in Arkansas, who 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 consumers in Arkansas are less likely to have consumer debt and, conditional on ...
Finance and Economics Discussion Series , Paper 2021-045r1

Working Paper
The Credit Card Act and Consumer Finance Company Lending
Hannon, Simona; Elliehausen, Gregory E. (2017-06-29)
The Credit Card Accountability and Disclosure Act (CARD Act) of 2009 restricted several risk management practices of credit card issuers. Using a quasi-experimental design with credit bureau data on consumer lending, we find evidence consistent with the hypothesis that the act??s restrictions on risk management practices contributed to a large decline in bank card holding by higher risk, nonprime consumers but had little effect on prime consumers. Looking at consumer finance loans, historically a source of credit for higher risk consumers, we find greater reliance on such loans by nonprime ...
Finance and Economics Discussion Series , Paper 2017-072

Working Paper
The growth of consumer credit and the household debt service burden
Maki, Dean M. (2000)
Household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households and ultimately lead them to curtail their spending. In this paper, I summarize some of the relevant facts concerning the growth of consumer credit and the household debt service burden, outline the results of the research that has been conducted in this area, and look at the questions that might be answered with additional research.
Finance and Economics Discussion Series , Paper 2000-12

Journal Article
Recent developments in instalment credit
anonymous (1949-04)
Federal Reserve Bulletin , Issue Apr , Pages 333-342

Working Paper
Implications of Student Loan COVID-19 Pandemic Relief Measures for Families with Children
Goodman, Sarena; Hannon, Simona; Isen, Adam; Mezza, Alvaro (2023-05-05)
The initial years of the COVID-19 pandemic and the resulting economic fallout likely posed particular financial strain on U.S. households with children, who faced income disruptions from widespread jobs and hours cuts in addition to new childcare and instruction demands. One common expense for many such households is their student loan payment. The Coronavirus Aid, Relief, and Economic Security (CARES) Act included provisions to curb the impacts of these payments, which have been extended several times. These measures were not targeted and thus applied independent of need. This chapter ...
Finance and Economics Discussion Series , Paper 2023-025

Report
Effects of household creditworthiness on mortgage refinancings
Peristiani, Stavros; Monsen, Gordon; Bennett, Paul; Raiff, Jonathan; Peach, Richard (1996)
Using a unique loan level data set that links individual household credit ratings with property and loan characteristics, we test the extent to which homeowners' equity and credit ratings affect the likelihood that mortgage loans will be refinanced as interest rates fall. The logit model estimates strongly support the importance of both the equity and credit ratings affect the likelihood that mortgage loans will be refinanced as interest rates fall. The logit model estimates strongly support the importance of both the equity and credit variable. These results are interesting both from the ...
Research Paper , Paper 9622

Journal Article
1950 survey of consumer finances: part V. the distribution of assets, liabilities and net worth of consumers, early 1950
Lorie, James; Frechtling, John (1950-12)
Federal Reserve Bulletin , Issue Dec

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