Our previous post showed that the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was associated with a sizable rise in foreclosure, in addition to a decline in bankruptcy filings and a rise in insolvency.
Personal bankruptcy was introduced in the United States through the Bankruptcy Act of 1978.
Student debt continues to make headlines because of its high balances and high rates of delinquency and default—troubling issues that we discussed in our previous posts this week.
An analysis of student loan borrower distress uncovers some new facts. First, cohort default rates appear to have been worsening over time, Second, defaults appear to be concentrated among the lowest-balance borrowers, who may not have completed their schooling, or may have earned credentials with lower payoffs than a four-year college degree. Finally, snapshots of delinquency and default rates miss the fact that many borrowers who are current today have had serious stress in the past.
Student loans have recently attracted a huge amount of attention from the press and policymakers.
Just Released: Student Loan Delinquency Rate Defies Overall Downward Trend in Household Debt and Credit Report for Fourth Quarter 2014
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2014. The report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized […]
It’s almost Valentine’s Day, and we’re not asking you questions or dispensing advice about it — that’s not (yet) our business.
It’s natural to think of banks as intermediaries that take in deposits and use them to make loans to businesses and individuals.
Forming long-term partnerships with customers and suppliers often creates a competitive advantage for firms because it permits resource sharing, eases financial constraints, and encourages investment in relationship-specific capital.
International financial flows are a key feature of the global landscape and are relevant in many ways for central banks.