23 mar The very first two waves of this CPS data span three pay day loan bans: Arizona, Montana, and New Hampshire.

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 York’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 consumers’ credit records maintained by Equifax, certainly one of the nation’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

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