Category Archives: Predatory Lending

Paper Finds Evidence of Mortgage Originators Steering Borrowers to Subprime Loans in 2000s

Sumit Agarwal of the National University of Singapore and Douglas D. Evanoff of the Chicago Fed have written Loan Product Steering in Mortgage Market.  Here's the abstract: Accusations of unscrupulous lender behavior — e.g., predatory lending — abounded during the housing boom of the 2000s. Such behavior is said to have generated significant social costs […]

More From Creola Johnson on Payday Lending

Creola Johnson of Ohio State has written Congress Protected the Troops: Can the New CFPB Protect Civilians from Payday Lending? 69 Washington & Lee Law Review 649 (2012). Here's the abstract: In 2007, Congress enacted a law, commonly referred to as the Military Lending Act (MLA), which placed a 36% interest rate cap on several […]

Creola Johnson on the CFPB and Payday Lending

Creola Johnson of Ohio State has written America's First Consumer Financial Watchdog Is on a Leash: Can the CFPB Use Its Authority to Declare Payday-Loan Practices Unfair, Abusive, and Deceptive? 61 Catholic University Law Review (2012). Here's the abstract: To stop payday lenders from skirting state laws, this Article asserts that the CFPB should exercise […]

Victor Stango: Are Payday Lending Markets Competitive?

Victor Stango of UC Davis Graduate School of Management has written Are Payday Lending Markets Competitive? Regulation (Fall 2012) at 26.  Here's the abstract: The rapid and widespread growth of the payday loan market has sparked considerable controversy, in part regarding the “high” prices charged for these loans. This article presents several new pieces of […]

Martin & Longa Study of Whether Payday and Title Loans Serve the Middle Class

Nathalie Martin and Ernesto A. Longa, both of New Mexico have written High-Interest Loans and Class: Do Payday and Title Loans Really Serve the Middle Class?, 24 Loyola Consumer Law Reporter 524 (2012). Here's the abstract: This symposium article addresses the question of whether payday and title lenders serve primarily the working poor, as some critics […]