This paper estimates the effect of North Carolina's high-cost mortgage law on the subprime mortgage market in that state. The results indicate that creditors sharply restricted lending to higher risk consumers in North Carolina following passage of the law. Creditors did not restrict lending in...

Subprime mortgage lending is controversial. Its critics see excessive prices, unfair terms and "predatory" practices. Proponents see a much narrower set of problems. Legislative and regulatory solutions to perceive problems are being implemented piecemeal across states and even local...

Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book...

Subprime mortgage lending is controversial. Its critics see excessive prices, unfair terms and "predatory" practices. Proponents see a much narrower set of problems. Legislative and regulatory solutions to perceive problems are being implemented piecemeal across states and even local...

Using survey data from retail and gasoline cardholders, we examine the substitution of general purpose (bank) cards for proprietary cards and how issuers can predict which consumers are most likely to substitute. Convenience and rebates are the primary reasons for using a bank card. However,...

The Federal Reserve Bank of San Francisco, the Take Charge America Institute at the University of Arizona, and the Federal Reserve Bank of Minneapolis invited a small group of researchers and practitioners to discuss how to improve the evaluation and metrics of youth financial education...