Usury is a frequent occurrence in consumer credit markets and particularly affects low-income households. Although the … to a group which is statistically discriminated against leads to entrapment in a chain of usurious credit and financial … contracts. This paper reviews the economic rationale for usury legislation and evaluates the European Consumer Credit Directive …

institutional framework in the US as implied by Chapter 7 and Chapter 13. The model is estimated using micro data on credit reports …

institutional framework in the U.S. as implied by Chapter 7 and Chapter 13. The model is estimated using micro data on credit …

) to examine how household use of payday loans and pawn shops is related to limits on loan fees set by states. We use … information in the CPS to measure the relationship between household characteristics and payday loan and pawn shop usage and to …

This paper studies a type of mortgage applications in which household applicants reject offers from lenders. We find …

borrow on their credit cards, adding to their existing debt. Thus the cost of relying on credit cards is likely very high for … drop in income from one year to the next, like one resulting from a layoff or a government shutdown, increased their credit … card borrowing. We do not find evidence that a negative income shock raises consumers' likelihood of revolving on credit …

We use monthly credit card data from the Federal Reserve's Y-14M reports to study the early impact of the COVID-19 … shock on the use and availability of consumer credit. First, we find that in counties severely affected by the pandemic …, creditworthy borrowers reduce their credit card balances and credit card transactions, while the least creditworthy borrowers …