To analyze the effect of pay day loan bans on conventional types of credit, we utilize information from the Federal Reserve Bank of the latest YorkвЂ™s credit Panel/Equifax (CCP). 11 The CCP is really a nationally representative longitudinal database with step-by-step information regarding personal debt, obtained quarterly and produced by consumersвЂ™ credit records maintained by Equifax, certainly one of the nationвЂ™s three major credit reporting agencies. We work with a 5 % test associated with CCP information, corresponding up to a .25 per cent test regarding the population. Quarterly information on specific bank card, retail card, and customer finance loan balances can be found from 2006 to 2012, yielding an example of 6 million person-quarters. 12
Initial two waves associated with CPS data span three cash advance bans: Arizona, Montana, and New Hampshire.
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