Finance and Economics Discussion Series: Accessible versions of figures for 2017-072

The Credit Card Act and Consumer Finance Company Lending

Accessible version of figures


Figure 1: Bank credit card accounts per 10,000 consumers (in thousands)

Period Low rate, prime High rate, prime Low rate, nonprime High rate, nonprime
Prelaw 27.1 25.3 17.1 14.1
Implementation 23.1 20.9 13.8 10.7
Effective 23.2 20.8 12.1 9.3

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Figure 2: Consumer finance accounts per 10,000 consumers (in thousands)

Period Low rate, prime High rate, prime Low rate, nonprime High rate, nonprime
Prelaw 4.2 4.8 4.1 5.3
Implementation 2.3 2.5 2.5 4.2
Effective 2.2 2.5 2.2 4.1

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Figure 3: Bank credit card accounts per 10,000 consumers, percent of prelaw average

Period Low rate, prime High rate, prime Low rate, nonprime High rate, nonprime
Implementation 85% 83% 81% 76%
Effective 86% 82% 71% 66%

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Figure 4: Consumer finance accounts per 10,000 consumers, percent of prelaw average

Period Low rate, prime High rate, prime Low rate, nonprime High rate, nonprime
Implementation 55% 52% 61% 79%
Effective 52% 52% 54% 77%

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Appendix: Trends in account holding: By credit score category and height of state consumer finance rate ceiling

These figures show the number of bank cards and number of consumer finance accounts for high rate ceiling time FE and low rate ceiling time FE for prime and nonprime consumers from 2007 to 2012. Prelaw trends in account holding for prime and nonprime consumers were similar in both low and high-rate states.

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