The Bank's Research Department publishes a working paper series of original research produced by resident economists and visiting scholars. The Payment Cards Center is committed to supporting such efforts, particularly research that focuses on payment-card-related issues. Links to these relevant Research working papers are maintained on the Center's website.
Two new Research working papers were recently posted to the site. The first of these was written by Bob Hunt, a Bank economist who works closely with the Center. His paper, "The Development and Regulation of Consumer Credit Reporting in America," examines the evolution of the consumer credit reporting industry and the role of the Fair Credit Reporting Act in balancing the benefits of voluntary information sharing against the cost of any resulting mistakes.
The second paper was co-authored by Joe Mason, assistant professor of finance at Drexel University and a Payment Cards Center visiting scholar. Mason's paper, "Credit Card Securitization and Regulatory Arbitrage," explores the motivations that drive off-balance- sheet financing of credit card receivables by banks and addresses underlying risk transfer implications.