Recent Developments in Consumer Credit and Payments

5:00 p.m.

Registration

5:30 p.m.

Welcome and Reception

8:00 a.m.

Continental Breakfast

8:45 a.m.

Introductory Remarks

9:00 a.m.

Session I

Securitization and Distressed Loan Renegotiation: Evidence from the Subprime Mortgage Crisis

• Tomasz Piskorski, Columbia University (with Amit Seru, University of Chicago, and Vikrant Vig, London Business School)
  • Abstract
  • Paper (686 KB, 57 pages)
• Discussant: Paul Willen, Federal Reserve Bank of Boston
  • Presentation (140 KB, 5 pages)

Liar's Loan? Effects of Origination Channel and Information Falsification on Mortgage Delinquency

• Ashlyn Nelson, Indiana University (with Wei Jiang, Columbia University, and Edward Vytlacil, Yale University)
  • Abstract
  • Paper (559 KB, 52 pages)
  • Presentation (457 KB, 18 pages)
• Discussant: Ronel Elul, Federal Reserve Bank of Philadelphia
  • Presentation (333 KB, 15 pages)

10:30 a.m.

Break

11:00 a.m.

Session II

Information Disclosure, Cognitive Biases, and Payday Borrowing

• Adair Morse, University of Chicago (with Marianne Bertrand, University of Chicago)
  • Abstract
  • Paper (959 KB, 53 pages)
  • Presentation (959 KB, 44 pages)
• Discussant: Jeremy Tobacman, University of Pennsylvania
  • Presentation (92 KB, 7 pages)

Data Breaches and Identity Theft

• William Roberds, Federal Reserve Bank of Atlanta (with Stacey L. Schreft, The Mutual Fund Research Center, LLC)
  • Abstract
  • Paper (235 KB, 54 pages)
  • Presentation (131 KB, 22 pages)
• Discussant: Edward S. Prescott, Federal Reserve Bank of Richmond
  • Presentation (100 KB, 20 pages)

12:30 p.m.

Lunch

1:45 p.m.

Session III

Did Bankruptcy Reform Contribute to the Mortgage Crisis?

• Michelle J. White, University of California, San Diego (with Wenli Li, Federal Reserve Bank of Philadelphia, and Ning Zhu, University of California, Davis)
• Discussant: Nicholas Souleles, University of Pennsylvania

2:30 p.m.

Break

2:45 p.m.

Session IV

The Impact of the U.S Financial Crisis on Global Retail Lending

• Jörg Rocholl, European School of Management and Technology (with Manju Puri, Duke University, and Sascha Steffen, University of Mannheim)
  • Abstract
  • Paper (332 KB, 48 pages)
• Discussant: Philip Strahan, Boston College

3:30 p.m.

Break

3:45 p.m.

Session V

Legal Protection in Retail Financial Markets

• Simon Gervais, Duke University (with Bruce I. Carlin, University of California, Los Angeles)
  • Abstract
  • Paper (324 KB, 38 pages)
  • Presentation (324 KB, 12 pages)
• Discussant: Philip Bond, University of Pennsylvania
  • Presentation (49 KB, 9 pages)

4:30 p.m.

Concluding Remarks