{"id":1019,"date":"2019-09-03T09:42:30","date_gmt":"2019-09-03T07:42:30","guid":{"rendered":"http:\/\/www.christophbertsch.com\/?p=1019"},"modified":"2019-09-03T09:42:30","modified_gmt":"2019-09-03T07:42:30","slug":"new-version-of-bank-misconduct-and-online-lending","status":"publish","type":"post","link":"https:\/\/www.christophbertsch.com\/?p=1019","title":{"rendered":"New version of &#8220;Bank Misconduct and Online Lending&#8221;"},"content":{"rendered":"<p><strong><a title=\"Bank Misconduct and Online Lending\" href=\"http:\/\/www.christophbertsch.com\/data\/BHQZ_BankMisconduct.pdf\" target=\"_blank\">&#8220;Bank Misconduct and Online Lending&#8221;<\/a><\/strong> with Isaiah Hull (Sveriges Riksbank), Yingjie Qi (Stockholm School of Economics) and Xin Zhang (Sveriges Riksbank)<\/a><\/p>\n<ul>\n<li>Abstract:<\/li>\n<\/ul>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>We introduce a high quality proxy for bank misconduct that is constructed from<br \/>\nConsumer Financial Protection (CFPB) complaint data. We employ this proxy to<br \/>\nmeasure the impact of bank misconduct on the expansion of online lending in the<br \/>\nUnited States. Using nearly complete loan and application data from the online lending<br \/>\nmarket, we demonstrate that bank misconduct is associated with a statistically and<br \/>\neconomically signi\fcant increase in online lending demand at the state and county<br \/>\nlevels. This result is robust to the inclusion of bank credit supply shocks and holds for<br \/>\nboth broader and more narrowly-de\fned bank misconduct measures. Furthermore, we<br \/>\nshow that this e\u000bect is strongest for lower rated borrowers and weakest in states with<br \/>\nhigh levels of generalized trust.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>Keywords: financial development, consumer loans, bank misconduct, FinTech.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bank Misconduct and Online Lending&#8221; with Isaiah Hull (Sveriges Riksbank), Yingjie Qi (Stockholm School of Economics) and Xin Zhang (Sveriges Riksbank) Abstract: We introduce a high quality proxy for bank misconduct that is constructed from Consumer Financial Protection (CFPB) complaint &hellip; <a href=\"https:\/\/www.christophbertsch.com\/?p=1019\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,67,52,12,48],"tags":[],"class_list":["post-1019","post","type-post","status-publish","format-standard","hentry","category-academic-research","category-bank-misconduct","category-consumer-credit","category-finance-banking","category-p2p-lending"],"_links":{"self":[{"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=\/wp\/v2\/posts\/1019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1019"}],"version-history":[{"count":1,"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=\/wp\/v2\/posts\/1019\/revisions"}],"predecessor-version":[{"id":1020,"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=\/wp\/v2\/posts\/1019\/revisions\/1020"}],"wp:attachment":[{"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.christophbertsch.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}