This chapter examines patterns of financial choices by a credit union's members using transaction-level administrative data on checking, savings, and line-of-credit (LOC) accounts. We observe substantial payday loan use when cheaper sources of liquidity are available, resulting in average...

We exploit the random assignment of judges in personal bankruptcy proceedings to test whether race and politics bias judges granting debt discharges in chapter 13 (reorganization) and chapter 7 (liquidation) bankruptcy proceedings. To do so, we have collected a random sample of 9,526 bankruptcy...

I use evidence from a $300 tax rebate to test whether receipt of this cash infusion by payday borrowers affects the likelihood of borrowing, loan sizes, or default behavior. Results from fixed-effects models show that the rebate decreased the probability of taking out a payday loan in the short...