| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28242 |
| 来源ID | Working Paper 28242 |
| In the Red: Overdrafts, Payday Lending and the Underbanked | |
| Marco Di Maggio; Angela T. Ma; Emily Williams | |
| 发表日期 | 2020-12-21 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The reordering of transactions from "high-to-low" is a controversial bank practice thought to maximize fees paid by low-income customers on overdrawn accounts. We exploit multiple class-action lawsuits resulting in mandatory changes to this practice, coupled with payday lending data, to show that after banks cease high-to-low reordering, low-income individuals reduce borrowing from alternative lenders. These consumers increase consumption, experience long-term improvements in overall financial health, and gain access to lower-cost loans in the traditional system. These findings highlight that aggressive bank practices create a demand for alternative financial services, highlighting an important link between the traditional and alternative financial systems. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w28242 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585915 |
| 推荐引用方式 GB/T 7714 | Marco Di Maggio,Angela T. Ma,Emily Williams. In the Red: Overdrafts, Payday Lending and the Underbanked. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28242.pdf（654KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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