Loretta Mester outlines the components of reform proposals. She then looks at the empirical research on personal bankruptcy to evaluate the rationale for reforming the system and the effectiveness of proposed changes. ; Also issued as Payment Cards Center Discussion Paper No. 02-02

Managing the recovery in uncertain times was the topic of our third annual Philadelphia Fed Policy Forum held on November 14, 2003. This event, sponsored by the Bank’s Research Department, brought together a group of highly respected academics, policymakers, and market economists, for...

Credit scoring is already widely used for consumer lending and is becoming more commonly used in mortgage lending. Now, small business lending is getting into the scoring act. What does this mean for the commercial loan industry? And will it benefit small businesses? In this article, Loretta...