We introduce a model of a rational credit card user's rather complex usage choices and develop an empirical framework to test its predictions. Employing a large national database of U.S. card accounts, we estimate how prices impact card usage and find that price effects are mostly well explained...

We document and analyze price dispersion in the U.S. mortgage market. We find significant price dispersion in posted prices in the retail channel: for example, a consumer with a prime credit score and with a 20% down payment for a conforming loan might see a spread in interest rates of 50 basis...

In 2013, the FDIC and OCC issued guidance claiming that inadequate underwriting of deposit advance loans raised safety and soundness concerns. Banks quickly removed deposit advance from their small dollar credit offerings. Unless overdraft and deposit advance are perfect substitutes, the loss of...

Debt collection is an important part of the consumer credit ecosystem, but has received little attention in the economics literature. Regulations on collection practices can protect consumers, but may also lead to unintended consequences if the costs of better practices are passed on to...