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Tuesday, September 1, 2015

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Program in Consumer Credit & Payments

About the Program in Consumer Credit and PaymentsAbout the Program in Consumer Credit & Payments

The program in Consumer Credit & Payments is a Bank-wide effort to advance our understanding of these markets and to make this information available to industry, consumers, policymakers, researchers, and the public at large. On these pages you will find research and analysis produced by the Bank's subject matter experts in Community Development Studies and Education, the Payment Cards Center, Research, Supervision and Regulation, and other areas.

Highlights

What's new

July 2015

Discussion Paper Released: Trends and Preferences in Consumer Payments: Updates from the Visa Payment Panel Study

Michael Marx, senior director, Visa Research Insights, conducted a workshop in 2009 at the Payment Cards Center (PCC) as the economy was emerging from a recession. At that time, it appeared that the recession had affected consumer payment preferences, especially those related to cash and credit cards. To get an update on consumers’ use of the various payment methods, the PCC invited Marx to facilitate another workshop in 2014. More recent findings from the Visa Payment Panel Study reveal declines in cash use — a return to the long-term trend — and increases in credit card use, perhaps signaling some return of confidence among consumers. Check use continued its unbroken long-term decline, and debit card growth has slowed. Private label cards have also registered a steady decline in their share of spending volume for a number of years. Their revolving credit utility, however, remains consequential in financing consumer purchases.

April 2015

Working Paper Released: Do Student Loan Borrowers Opportunistically Default? Evidence from Bankruptcy Reform

Bankruptcy reform in 2005 eliminated debtors' ability to discharge private student loan debt in bankruptcy. This law aimed to reduce costly defaults by diminishing the perceived incentive of some private student loan borrowers to declare bankruptcy even if they had sufficient income to service their debt. Using a unique, nationally representative sample of anonymized credit bureau files, the authors examine the bankruptcy filing and delinquency rates of private student loan borrowers in response to the 2005 bankruptcy reform. They do not find evidence that the nondischargeability provision reduced the likelihood of filing bankruptcy among private student loan borrowers as compared with other debtors whose incentives were not directly affected by the policy.

  • Last update: July 2, 2015

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