In California and elsewhere, African Americans and Latinos have been found to make up a disproportionate share of payday loan borrowers. This paper evaluates whether and why the relative concentration of African American and Latino households is a factor that influences the location and...

<title>Abstract</title> We examine the effects of 33 state predatory lending regulatory regimes on the flow and cost of subprime residential mortgage credit. We use the Loan Performance Subprime Asset‐Backed Securities Database to analyze almost 7 million subprime home loans originated between January 1998...