Consumer Credit & Payments Publications

Consumer Credit

Collections and Foreclosure

• Collecting Consumer Debt in America, Bob Hunt, Q2 2007

Consumer Bankruptcy

• A Quantitative Theory of Unsecured Consumer Credit with Risk of Default, Satyajit Chatterjee, June 2007
• Bankruptcy: Is It Enough to Forgive or Must We Also Forget?, Ronel Elul, March 2007
• Banks and the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, Kenneth Benton, Q4 2005
• Consumer Bankruptcy: How Unsecured Lenders Fare, Mark Furletti, November 2003
• Did Bankruptcy Reform Cause Mortgage Default Rates to Rise?, Wenli Li, April 2010
• Is the Personal Bankruptcy System Bankrupt?, Loretta Mester, Q1 2002
• The Anatomy of U.S. Personal Bankruptcy under Chapter 13, Wenli Li, September 2007
• The Economic Logic of a Fresh Start, Satyajit Chatterjee, Q1 2008
• What Do We Know About Chapter 13 Personal Bankruptcy Filings?, Wenli Li, Q4 2007

Credit Counseling and Debt Settlement

• Is Technology-Enhanced Credit Counseling as Effective as In-Person Delivery, Michael Staten, February 2011

Credit Reporting

• A Century of Consumer Credit Reporting in America, Bob Hunt, June 2005
• Alternative Data and Its Use in Credit Scoring Thin- and No-File Consumers, Julia Cheney, February 2008
• An Overview and History of Credit Reporting, Mark Furletti, June 2002
• Bankruptcy: Is It Enough to Forgive or Must We Also Forget?, Ronel Elul, March 2007
• What's in the File? The Economics and Law of Consumer Credit Bureaus, Bob Hunt, Q2 2006

Credit Scoring and Credit Risk Models

• Alternative Data and Its Use in Credit Scoring Thin- and No-File Consumers, Julia Cheney, February 2008

Financial Education

• Community Development Finance Research Conference: A Summary, Marvin Smith, Nora Fitzpatrick, Q2 2006
• Homeownership Education and Counseling: Issues in Research and Definition, Alan Mallach, June 2000

Mortgages

• Can Banks Circumvent Minimum Capital Requirements? The Case of Mortgage Portfolios Under Basel II, Chris Henderson, Julapa Jagtiani, May 2010
• Collateral, Credit History, and the Financial Decelerator, Ronel Elul, September 2005
• Credit Cycle and Adverse Selection Effects in Consumer Credit Markets: Evidence from the HELOC Market, Leonard Nakamura, March 2011
• Did Bankruptcy Reform Cause Mortgage Default Rates to Rise?, Wenli Li, April 2010
• Residential Mortgage Default, Ronel Elul, Q3 2006
• Securitizations: Which Subprime Mortgage Loans Were Sold by Depository Institutions Prior to the Crisis of 2007?, Chris Henderson, March 2010
• Strategic Default on First and Second Lien Mortgages During the Financial Crisis, Julapa Jagtiani, William Lang, December 2010
• Subprime Lending Over Time: The Role of Race, Marvin Smith, Christy Hevener, October 2010
• Subprime Mortgages and the Housing Bubble, Leonard Nakamura, February 2011
• The American Mortgage System: Crisis and Reform, Marvin Smith, Susan Wachter, July 2011
• What "Triggers" Mortgage Default?, Bob Hunt, Ronel Elul, April 2010

Payday Lending

• In Harm's Way? Payday Loan Access and Military Personnel Performance, Jonathan Zinman, August 2008
• Payday Lending: New Research and the Big Question, John Caskey, October 2010

Revolving Credit

• A Dynamic Model of Unsecured Credit, Daniel Sanches, December 2010
• A Portfolio View of Consumer Credit, Nicholas Souleles, September 2005
• Perspectives on Recent Trends in Consumer Debt, Andrew Kish, June 2006
• Restricting Consumer Credit Access: Household Survey Evidence on Effects Around the Oregon Rate Cap, Jonathan Zinman, December 2008
• Switching Costs and Adverse Selection in the Market for Credit Cards: New Evidence, Loretta Mester, July 2005
• The Reaction of Consumer Spending and Debt to Tax Rebates: Evidence from Consumer Credit Data, Nicholas Souleles, November 2007
• Where Is the Missing Credit Card Debt? Clues and Implications, Jonathan Zinman, September 2007

Student Loans

• Insuring Student Loans Against the Risk of College Failure, Satyajit Chatterjee, October 2010

Underserved

• Alternative Data and Its Use in Credit Scoring Thin- and No-File Consumers, Julia Cheney, February 2008
• Alternative Financial Service Providers and the Spatial Void Hypothesis, Marvin Smith, John Wackes, March 2007
• Alternative Financial Vehicles: Rotating Savings and Credit Associations (ROSCAs), Christy Chung Hevener, November 2006
• Assessing the Impact of Electronic Benefits Transfer, Various, September 2004
• How Effective Were the Financial Safety Nets in the Aftermath of Katrina?, Julia Cheney, January 2006
• Innovative Financial Tools for Serving the Underbanked: A Summary, Christy Chung Hevener, Marvin Smith, October 2007
• Payment Cards and the Unbanked: Prospects and Challenges, Julia Cheney, July 2005
• Payments, Credit, and Savings: The Experience for LMI Households, Julia Cheney, May 2007
• The Cost Effectiveness of Stored-Value Products for Unbanked Consumers, James McGrath, May 2005

Payments

ATM and Debit

• An Update on Trends in the Debit Card Market, Julia Cheney, June 2007
• Cost Savings from Electronic Payments and ATMs in Europe, David Humphrey, August 2003

Check and Check 21

• After the Hype: e-Commerce Payments Grow Up, Various, June 2003

Credit Cards

• Credit Card Pricing Developments and Their Disclosure, Mark Furletti, January 2003
• Credit Cards and Payment Efficiency, Stan Sienkiewicz, August 2001
• Getting Down to Business: Commercial Cards in Business-to-Business Payments, Susan Herbst-Murphy, March 2011
• Switching Costs and Adverse Selection in the Market for Credit Cards: New Evidence, Loretta Mester, July 2005
• Trends and Preferences in Consumer Payments: Lessons from the Visa Payment Panel Study, Susan Herbst-Murphy, May 2010
• Voting with Your Feet: Consumers' Problems with Credit Cards and Exit Behaviors, Anne Stanley, May 2003

Emerging Payments

• After the Hype: e-Commerce Payments Grow Up, Various, June 2003
• An Overview of Smart Card Technology and Markets, Mark Furletti, April 2002
• Innovations at the Point of Sale, Various, February 2003
• Innovations in Small Dollar Payments, Peter Burns, Anne Stanley, October 2001
• Micropayments: The Final Frontier for Electronic Consumer Payments, James McGrath, June 2006
• New Prospects for Payment Card Application in Health Care, Ann Kjos, November 2008
• The Electronification of Transit Fare Payments: A Look at the Southeastern Pennsylvania Transportation Authority's New Payment Technologies Project, Philip Keitel, April 2009
• The Evolution of EFT Networks from ATMs to New On-Line Debit Payment Products, Stan Sienkiewicz, April 2002
• The Future of E-Commerce Payments, Stanley J. Sienkiewicz, June 2002
• Will Online Bill Payment Spell the Demise of Paper Checks?, James McGrath, July 2005

Merchant Acquiring

• The Merchant-Acquiring Side of the Payment Card Industry: Structure, Operations, and Challenges, Ann Kjos, October 2007

Mobile Payments

• An Examination of Mobile Banking and Mobile Payments: Building Adoption as Experience Goods?, Julia Cheney, June 2008

Payments Theory

• A Dynamic Model of the Payment System, Cyril Monnet, October 2007
• An Introduction to the Economics of Payment Card Networks, Bob Hunt, June 2003
• Antitrust Issues in Payment Card Networks: Can They Do That? Should We Let Them?, Bob Hunt, Q2 2003
• Comment on Cavalcanti AND Nosal's “Counterfeiting as Private Money in Mechanism Designâ€�, Cyril Monnet, September 2010
• Optimal Pricing of Payment Services When Cash Is an Alternative, Cyril Monnet, October 2007
• Trends and Preferences in Consumer Payments: Lessons from the Visa Payment Panel Study, Susan Herbst-Murphy, May 2010

Prepaid Cards

• A Prepaid Case Study: Ready Credit's General-Purpose & Transit-Fare Programs, Philip Keitel, April 2012
• Federal Regulation of the Prepaid Card Industry: Costs, Benefits, and Changing Industry Dynamics, Philip Keitel, May 2011
• General-Use Prepaid Cards: The Path to Gaining Mainstream Acceptance, James McGrath, March 2007
• Getting Down to Business: Commercial Cards in Business-to-Business Payments, Susan Herbst-Murphy, March 2011
• Insolvency Risk in the Network-Branded Prepaid-Card Value Chain, Philip Keitel, September 2011
• New Prospects for Payment Card Application in Health Care, Ann Kjos, November 2008
• Prepaid Card Markets & Regulation, Mark Furletti, February 2004
• Prepaid Card Models: A Study in Diversity, Julia Cheney, March 2005
• Prepaid Cards: An Important Innovation in Financial Services, Julia Cheney, July 2006
• Prepaid Cards: How Do They Function? How Are They Regulated?, Mark Furletti, June 2004
• Prepaid Cards: Vulnerable to Money Laundering?, Stanley Sienkiewicz, February 2007
• The Cost Effectiveness of Stored-Value Products for Unbanked Consumers, James McGrath, May 2005
• The Laws, Regulations, Guidelines, and Industry Practices That Protect Consumers Who Use Gift Cards, Philip Keitel, July 2008
• The Role of Electronic Payments in Disaster Recovery: Providing More Than Convenience, Julia Cheney, May 2006

Transit

• A Prepaid Case Study: Ready Credit's General-Purpose & Transit-Fare Programs, Philip Keitel, April 2012
• The Electronification of Transit Fare Payments: Examining the Case for Partnerships Between Payments Firms and Transit Agencies, Philip Keitel, April 2011

Underserved

• Alternative Data and Its Use in Credit Scoring Thin- and No-File Consumers, Julia Cheney, February 2008
• Alternative Financial Service Providers and the Spatial Void Hypothesis, Marvin Smith, John Wackes, March 2007
• Alternative Financial Vehicles: Rotating Savings and Credit Associations (ROSCAs), Christy Chung Hevener, November 2006
• Assessing the Impact of Electronic Benefits Transfer, Various, September 2004
• How Effective Were the Financial Safety Nets in the Aftermath of Katrina?, Julia Cheney, January 2006
• Innovative Financial Tools for Serving the Underbanked: A Summary, Christy Chung Hevener, Marvin Smith, October 2007
• Payment Cards and the Unbanked: Prospects and Challenges, Julia Cheney, July 2005
• Payments, Credit, and Savings: The Experience for LMI Households, Julia Cheney, May 2007
• The Cost Effectiveness of Stored-Value Products for Unbanked Consumers, James McGrath, May 2005

Regulation & Law

Antitrust and Competition

• Antitrust Issues in Payment Card Networks: Can They Do That? Should We Let Them?, Bob Hunt, Q2 2003

Consumer Protection

• Another Look at Credit Card Pricing and Its Disclosure: Is the Semi-Annual Pricing Data Reported by Credit Card Issuers to the Fed Helpful to Consumers or Researchers?, Mark Furletti, Christopher Ody, July 2006
• Credit Card Pricing Developments and Their Disclosure, Mark Furletti, January 2003
• Federal Consumer Protection Regulation: Disclosures and Beyond, Mark Furletti, June 2005
• Financial Privacy: Perspectives from the Payment Cards Industry, Mark Furletti, Stephen Smith, May 2003
• Legislative Responses to Data Breaches and Information Security Failures, Philip Keitel, December 2008
• Managing Global Privacy, Anne Stanley, September 2002
• Mandatory Arbitration Clauses in the Credit Card Industry, Mark Furletti, February 2003
• Payment System Regulation and How It Causes Consumer Confusion, Mark Furletti, November 2004
• Prepaid Card Markets & Regulation, Mark Furletti, February 2004
• Prepaid Cards: How Do They Function? How Are They Regulated?, Mark Furletti, June 2004
• Privacy Matters: The Right to Privacy and the Financial Services Industry, Sarah Burke, Q4 2001
• Proposed Changes to Regulation Z: Highlighting Behaviors That Affect Credit Cards, Ann Kjos, March 2008
• The Debate Over the National Bank Act and the Preemption of State Efforts to Regulate Credit Cards, Mark Furletti, March 2004
• The Laws, Regulations, Guidelines, and Industry Practices That Protect Consumers Who Use Gift Cards, Philip Keitel, July 2008
• The Laws, Regulations, and Industry Practices That Protect Consumers Who Use Electronic Payment Systems: ACH E-Checks & Prepaid Cards, Mark Furletti, Stephen Smith, March 2005
• The Laws, Regulations, and Industry Practices That Protect Consumers Who Use Electronic Payment Systems: Credit and Debit Cards, Mark Furletti, Stephen Smith, January 2005
• The Laws, Regulations, and Industry Practices That Protect Consumers Who Use Electronic Payment Systems: Policy Considerations, Mark Furletti, October 2005

Data Breaches

• Fraud Management in the Credit Card Industry, Peter Burns, Anne Stanley, April 2002
• Heartland Payment Systems: Lessons Learned from a Data Breach, Julia Cheney, January 2010
• Identity Theft: A Pernicious and Costly Fraud, Julia Cheney, December 2003
• Identity Theft: Do Definitions Still Matter?, Julia Cheney, August 2005
• Identity Theft: Where Do We Go From Here?, Julia Cheney, April 2004
• Information Security, Data Breaches, and Protecting Cardholder Information: Facing Up to the Challenges, Ann Kjos, James McGrath, September 2006
• Legislative Responses to Data Breaches and Information Security Failures, Philip Keitel, December 2008
• Maintaining a Safe Environment for Payment Cards: Examining Evolving Threats Posed by Fraud, Susan Herbst-Murphy, April 2008
• Prepaid Cards: Vulnerable to Money Laundering?, Stanley Sienkiewicz, February 2007
• Risky Business: Managing Electronic Payments in the 21st Century, Stanley Sienkiewicz, June 2005

Intellectual Property

• Intellectual Property Rights and Standard Setting in Financial Services: The Case of the Single European Payments Area, Bob Hunt, August 2007

Regulations

• Competitive Effects of Basel II on U.S. Bank Credit Card Lending, William Lang, Loretta Mester, Todd Vermilyea, March 2007
• Consumer Testing Informs Policy: Overdraft Regulation as a Case Study, Philip Keitel, June 2010
• Meeting the Demand for Debt Relief, Stephanie Wilshusen, August 2011
• Proposed Changes to Regulation Z: Highlighting Behaviors That Affect Credit Cards, Ann Kjos, March 2008
• Restricting Consumer Credit Access: Household Survey Evidence on Effects Around the Oregon Rate Cap, Jonathan Zinman, December 2008
• The Debate Over the National Bank Act and the Preemption of State Efforts to Regulate Credit Cards, Mark Furletti, March 2004

Safety and Soundness

• Competitive Effects of Basel II on U.S. Bank Credit Card Lending, William Lang, Loretta Mester, Todd Vermilyea, March 2007
• Credit Card Securitization and Regulatory Arbitrage, Joseph Mason, April 2003
• Retail Credit Risk Modeling and the Basel Capital Accord, Peter Burns, January 2002

Standard Setting

• Intellectual Property Rights and Standard Setting in Financial Services: The Case of the Single European Payments Area, Bob Hunt, August 2007

Miscellaneous

Asset-Backed Securities (ABS)

• An Overview of Credit Card Asset-Backed Securities, Mark Furletti, December 2002
• Special Purpose Vehicles and Securitization, Nicholas Souleles, September 2005
• What Is the Value of Recourse to Asset Backed Securities? A Clinical Study of Credit Card Banks, Joseph Mason, April 2003

Standard Setting

• Intellectual Property Rights and Standard Setting in Financial Services: The Case of the Single European Payments Area, Bob Hunt, August 2007

Statistics

• Measuring Credit Card Industry Chargeoffs: A Review of Sources and Methods, Mark Furletti, September 2003
• Measuring U.S. Credit Card Borrowing: An Analysis of the G.19’s Estimate of Consumer Revolving Credit, Mark Furletti, Christopher Ody, April 2006
• Where Is the Missing Credit Card Debt? Clues and Implications, Jonathan Zinman, September 2007