and that high-cost loans are likely used to finance impulse spending or function as a way to prolong a credit …

Using comprehensive credit bureau data, we document that consumers who borrow from marketplace lending (MPL) platforms … have lower credit scores and higher default rates in the long run relative to observably similar applicants for bank loans …

The Credit Card Accountability and Disclosure Act (CARD Act) of 2009 restricted several risk management practices of … credit card issuers. Using a quasi-experimental design with credit bureau data on consumer lending, we find evidence …, historically a source of credit for higher risk consumers, we find greater reliance on such loans by nonprime consumers in states …