Board of Governors of the Federal Reserve System
Federal Reserve Board of Governors

Federal Reserve

Current Bulletin

2013 Volume 99

December 19

Consumer Experiences with Credit Cards
Glenn Canner and Gregory Elliehausen

This article examines consumers' behavior, experiences, and attitudes regarding credit cards in the aftermath of the Great Recession and the implementation of the Credit Card Accountability Responsibility and Disclosure Act of 2009. The data for the article are primarily from a nationwide consumer survey sponsored by the Federal Reserve that was conducted in February 2012. The article discusses economic conditions in the period leading up to the survey because recent events may greatly influence survey responses. Many survey questions were identical or similar to those in earlier consumer surveys, making it possible to track changes in consumer experiences with, and attitudes about, this important financial product.

November 21

Mortgage Market Conditions and Borrower Outcomes: Evidence from the 2012 HMDA Data and Matched HMDA--Credit Record Data
Neil Bhutta and Glenn B. Canner

This article describes mortgage lending activity in 2012 based on newly available data reported under the Home Mortgage Disclosure Act of 1975 (HMDA). It also examines a new data set composed of HMDA records matched to borrowers? credit records. The matched data help document differences in the financial circumstances (credit scores and debt-to-income ratios) and subsequent loan performance of borrowers grouped by their race or ethnicity and income. The data also provide insight both into the potential for differential effects of the new qualified mortgage rules on access to credit across groups and into the role of the Community Reinvestment Act in the financial crisis.

November 20

Legal Developments: Third Quarter, 2013

Four orders were issued this quarter, one for Hana Financial Group Inc. under Section 3 of the Bank Holding Company Act, one for Live Oak Bancshares, Inc. under Section 4 of the Bank Holding Company Act, one for One PacificCoast Foundation and One PacificCoast Bancorp, Inc. under Sections 3 and 4 of the Bank Holding Company Act, and one for Adams Bank & Trust under the Federal Reserve Act.

May 30

Legal Developments: First Quarter, 2013

Three orders were issued this quarter, one for FirstMerit Corporation and Trustmark Corporation under Section 3 of the Bank Holding Company Act, and one for NongHyup Bank under the International Banking Act.

March 1

Legal Developments: Fourth Quarter, 2012

Three orders were issued this quarter under Section 3 of the Bank Holding Company Act: one for Mitsubishi UFJ Financial Group, Inc.; one for River Valley Bancorp; and one for Sumitomo Mitsui Financial Group, Inc.

Last update: February 24, 2014