Consumer Credit

Working Paper

CECL Implementation and Model Risk in Uncertain Times: An Application to Consumer Finance

WP 24-03 – I examine the challenges of economic forecasting and model misspecification errors confronted by financial institutions implementing the novel current expected credit loss (CECL) allowance methodology and its impact on model risk and bias in CECL projections.

Featured Work

Consumer Credit

Working Paper

Housing Speculation, GSEs, and Credit Market Spillovers

WP 24-02 – In 2021, the U.S. Treasury reduced the exposure of government-sponsored enterprises (GSEs) to speculative mortgages. As a result, GSE purchases of these loans fell by about 20 percentage points.

Consumer Credit

Working Paper

Debtor Income Manipulation in Consumer Credit Contracts

WP 22-35/R – We show that forcing insolvent consumer debtors to repay a larger fraction of debt causes them to strategically manipulate the data they report to creditors.

Consumer Credit

Working Paper

Decomposing Gender Differences in Bankcard Credit Limits

WP 23-30 – Using linked mortgage application and credit bureau data, we document the existence of unconditional and conditional gender gaps in the distribution of total bankcard limits.

Featured Data

Generic graph with dots

Advancing Fairness in Lending Through Machine Learning

Showcasing the work of Philadelphia Fed researchers, this interactive data visualization explores an approach to credit lending using machine learning and fairness goals that may help address current disparities in credit access.

Updated: 05 Feb ’24

Generic bar graph with bars of various heights

CFI COVID-19 Survey of Consumers

To gain insights into the impact of the COVID-19 pandemic on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia conducted a series of national surveys of consumers beginning in April 2020 and concluding in April 2022.

Updated: 30 May ’23

Philadelphia’s History of Racially Restricted Housing

As part of the Philadelphia Fed’s efforts to understand how housing affects the economy in our District, our researchers are studying the links between past housing discrimination and present-day outcomes.

Updated: 20 Feb ’24