Interest rates on consumer lending are lower when funds are tied to purchase of a durable good than when they are made available on an unconditional basis. Further, dealers often choose to bear the financial cost of their customers' credit purchases. This paper interprets this phenomenon in...

This study relies on an aggregate dataset of 73 countries from 2013 to 2018 to investigate the nexus between fintech credit, credit information sharing on bank stability. We document several significant findings. First, our evidence implies that fintech credit tends to improve bank stability....

High-cost, cash-advance or “payday” loans have plagued low-in- come consumers in the United States for several decades. With little regulation at the federal level, states have created a wide variety of regulatory frameworks addressing payday loans — from banning payday loans altogether in...

Price discrimination incentives may induce dealers to bear the financial cost of their customers' credit purchases. We focus on how financial market imperfections make it possible to segment the customer population. When borrowing and lending rates differ from each other and from the rate of...

Payday lenders and similar alternative financial services providers are primarily regulated at the state level, but local governments have increasingly begun to impose restrictions of their own on these fringe financial services providers. While some ordinances have focused on lending...

This survey summarizes current research on financial literacy efforts. Because most financial literacy programs are relatively new, much of the literature reviewed here is also new and part of a field that is still developing as a program of research. However, we can conclude that financial...