a mandatory repayment covenant called "excess cash flow sweep" in loan contracts to force borrowers to repay debts ahead …With free cash flows, borrowers can accumulate cash or voluntarily pay down debts. However, sometimes creditors impose … of their loans. The author finds that the sweep covenant is more likely to be imposed on borrowers with higher leverage …

The authors explore dynamics of limited attention in the $35 billion market for checking overdrafts, using survey … that reduces overdrafts for up to two years. The effects are significant among consumers with lower education and financial … literacy. Consumers avoid overdrafts not by increasing balances but by making fewer debit transactions and cancelling automatic …