Saltar al contenido principal
logo

2020 Conference

del 18 al 20 de May del 2020

Proposal authors can use this tool to see where they have been placed in the agenda for a Symposium, an Oral Session, or a Featured Research Session Poster.

Scroll down to search by Authors (Person)*, Date/Time, and Keywords. Rooms have not been assigned yet, so the locations are just generic place holders. *Note: If the submitting author did not add all the authors to the ProposalSpace form, only the First & Corresponding Author will be searchable.

Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session YES. Contact the ACCI Office right away if you have questions. Please be sure to reference the session title(s), date(s) and time(s) if you contact us.


F1a Policies to Protect Financially Vulnerable Populations: A Look at the Military Lending Act

jueves, el 21 de mayo de 2020 a las 14:45–16:15 CDT
Room 1
Key Words

payday loans, consumer protection, military consumers, geospatial analysis

Short Description

In this paper, I use geospatial data on payday lending storefronts to assess a landmark federal policy initiative: the 2007 Military Lending Act (MLA), which created a federal interest rate cap on consumer loans to military members, and its 2016 revision. I ask whether the implementation of the 2007 and 2016 MLAs resulted in a reduction in the number of payday storefronts within military communities, leveraging state-level variation in payday lending laws. The 2007 analysis shows that the MLA alone had virtually no impact on reducing payday loan exposure in military communities. In contrast, state-wide restrictions capping interest rates for all consumers was effective in reducing payday lender presence in all communities across the state, including military areas. These initial findings suggest that MLA as implemented was a misaligned policy solution and that universal regulation may be most effective in reducing military exposure to subprime financial services. The 2016 MLA presents an opportunity to further test this working argument. By assessing the 2007 and 2016 MLA in tandem with broader state policies, this study provides insights on best paths forward for policymakers with regards to the structure and scope of consumer protection for financially vulnerable populations.

First & Corresponding Author

Megan Bea, University of Wisconsin - Madison
Authors in the order to be printed

Megan Doherty Bea

Cargando…