This paper exploits a unique institutional setting to examine the role of administrative controls, an important aspect of managerial control systems that spans standard operating procedures, rules, and policies. We isolate the role of managerial control systems by examining how changes in...

This paper studies the role banking supervision plays in improving access to credit for minorities by investigating how enforcement decisions and orders (EDOs) affect the bank borrower base. We find that, after an EDO's termination, banks significantly increase residential mortgage lending to...

This paper investigates how bank supervisors’ enforcement decisions and orders (EDOs) influence the allocation of mortgage lending across demographic groups underlying a banks’ borrower base. Specifically, we investigate how banks’ mortgage lending to minority borrowers relative to white...