Search Results - subject:"Predatory Lending"

Community Development Credit Unions: Securing and Protecting Assets in Black Communities

Nembhard, Jessica Gordon - In: The Review of Black Political Economy 40 (2013) 4, pp. 459-490

Credit Unions, with a hundred year history, and Community Development Credit Unions (CDCUs), with a 30–40 year history of serving the under-served, have only recently begun to be recognized by some of the media and the progressive community as “safe havens” and fair lenders. There is...

Persistent link: https://www.econbiz.de/10010993762

Landmark payday loan act in Illinois

Pestine, Harry - In: Profitwise (2006) Feb, pp. 23-24

On June 9, 2005, Governor Rod R. Blagojevich signed a landmark Payday Loan Reform Act that for the first time will regulate the payday loan industry in Illinois and strengthen protection to consumers, especially working families and members of the military against predatory and abusive...

Persistent link: https://www.econbiz.de/10011027373

Predatory lending in rational world

Bond, Philip; Musto, David K.; Yilmaz, Bilge - Federal Reserve Bank of Philadelphia - 2006

Regulators express growing concern over “predatory lending,” which we take to mean lending that reduces the expected … circumstances in which it arises with and without competition. Predatory lending is associated with imperfect competition, highly … collateralized loans, and poorly informed borrowers. Under most circumstances competition among lenders eliminates predatory lending. …

Persistent link: https://www.econbiz.de/10005512312

States fight predatory lending in different ways

Ho, Giang; Pennington-Cross, Anthony - In: The Regional Economist (2006) Jan, pp. 12-13

As the laws vary from state to state, so does their impact. In some states, the high-cost mortgage business appears to have shrunk. But in other states, the opposite has occurred.

Persistent link: https://www.econbiz.de/10005512557

Income inequality: time for predatory lending laws?

Demyanyk, Yuliya - In: The Regional Economist (2006) Oct, pp. 10-11

States that have adopted laws against such lending had higher than average levels of income inequality over the past 10 years than did states that didn't pass such laws.

Persistent link: https://www.econbiz.de/10005512576

Borrower Self-Selection, Underwriting Costs, and Subprime Mortgage Credit Supply

Nichols, Joseph; Pennington-Cross, Anthony; Yezer, Anthony - 2005

In the U.S., households participate in two very different types of credit markets. Personal lending is characterized by continuous risk-based pricing in which lenders offer households a continuous distribution of borrowing possibilities based on estimates of their creditworthiness. This...

Persistent link: https://www.econbiz.de/10009484534

The impact of local predatory lending laws

Ho, Giang; Pennington-Cross, Anthony - Federal Reserve Bank of St. Louis - 2005

payments and prepayment penalties. This paper provides a detailed summary of various local predatory lending laws that are … WORKING PAPER SERIES The Impact of Local Predatory Lending Laws Giang Ho and Anthony ….gatewayarch.com The Impact of Local Predatory Lending Laws Giang Ho & Anthony Pennington-Cross* Federal Reserve Bank of St …

Persistent link: https://www.econbiz.de/10005707759

Household behavior and boom/bust cycles

Nofsinger, John R. - In: Journal of financial stability 8 (2012) 3, pp. 161-173

Persistent link: https://www.econbiz.de/10009655813

Mortgage Finance Markets: Lessons from the Past and Keys to the Future

Pennington-Cross, A. - In: Atlantic Economic Journal 40 (2012) 3, pp. 225-227

This special section of the journal provides an empirical examination of the mortgage market to help identify key market participants, how incentives affected behavior, and how participation in the market changed over time. The findings will help to identify lessons that can be applied to the...

Persistent link: https://www.econbiz.de/10010866425

Household behavior and boom/bust cycles

Nofsinger, John R. - In: Journal of Financial Stability 8 (2012) 3, pp. 161-173

I describe household behavior in boom and bust economic cycles with a particular focus on the recent financial crisis. The behaviors are motivated by cognitive limitations and psychological bias. In boom times, households’ extrapolation bias and groupthink lead to chasing and extending asset...

Persistent link: https://www.econbiz.de/10010599322