所属栏目:公司金融/政府政策与监管

Does the Disclosure of CFPB Complaint Narrative Reduce Racial Disparities in Financial Services
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发布日期:2024年07月29日 上次修订日期:2024年07月29日

摘要

We investigate the effect of the Consumer Financial Protection Bureau’s 2015 disclosure of complaint narratives on reducing racial disparities in financial services. Employing a triple-differences approach that compares the performance of affected and unaffected financial institutions across communities with varying racial compositions, we find that post-disclosure, minority communities experience welfare enhancements. These include higher savings interest rates (amounting to over $50 million annually), reduced maintenance fees, and lower interest rates on auto loans and credit cards. The research emphasizes the broad impact of service quality disclosure in mitigating racial disparities in savings and lending markets.
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Xiang Li; Ningzhe Zhou Does the Disclosure of CFPB Complaint Narrative Reduce Racial Disparities in Financial Services (2024年07月29日) https://www.cfrn.com.cn/lw/15804.html

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