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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