23 mar The very first two waves of this CPS data span three pay day loan bans: Arizona, Montana, and New Hampshire.
To analyze the effect of payday loan bans on old-fashioned kinds of credit, we utilize information through the Federal Reserve Bank of brand new YorkвЂ™s credit Panel/Equifax (CCP). 11 The CCP is just a nationally representative longitudinal database with step-by-step information regarding personal debt, obtained quarterly and derived from consumersвЂ™ credit records maintained by Equifax, certainly one of the nationвЂ™s three credit bureaus that is major. We make use of a 5 per cent test of this CCP information, corresponding to a .25 % test associated with the populace. Quarterly information on specific charge card, retail card, and customer finance loan balances can be obtained from 2006 to 2012, yielding an example of 6 million person-quarters. 12