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Research on consumer financial markets

Our PhD social scientists design and conduct foundational, policy-relevant research on consumer finance and household behavior.

For preliminary research and working papers, find the Office of Research’s independent papers on SSRN.

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Consumer Use of State Payday Loan Extended Payment Plans

This report examines state payday loan extended payment plans, an intervention allowing consumers to repay their payday loans in no-cost installments. It finds that despite the prevalence of state laws providing for these plans, rollover and default rates consistently exceed extended payment plan usage rates.


New Data on the Characteristics of Mortgage Borrowers During the COVID-19 Pandemic

This COVID-19 Special Issue Brief follows up on a May 2021 report that discussed the characteristics of mortgage borrowers, including demographics, during the COVID-19 pandemic. A significant number of homeowners have transitioned out of those forbearances over the last year due, in part, to improving economic conditions and the expiration of protections under these programs for many loans beginning in the Fall of 2021. Given these changes, our goal in this report is to better understand the characteristics of borrowers who remain in forbearance, as reported through January 2022.


Medical debt burden in the United States

This report summarizes key areas of concern in medical debt collections and reporting. The report begins with a section describing the medical debt landscape. It then discusses the negative consequences of medical debt for consumers. Next, it outlines the impact of the COVID-19 pandemic on medical debt. The report concludes with a brief discussion of federal and state regulatory developments.


Subprime Auto Loan Outcomes by Lender Type

This data point examines outcomes for subprime auto loans by lender type. It finds that borrowers with loans from some kinds of financial institutions pay higher interest rates, and experience vehicle repossessions more quickly after delinquency, than comparable borrowers with loans from other kinds of financial institutions.


Supplemental estimation methodology for institutional coverage and market-level cost estimates in the small business lending data collection notice of proposed rulemaking

This report describes the Bureau’s methodology for estimating how many banks would be required to report under the proposed rule implementing section 1071 of the Dodd-Frank Act and for producing market-level estimates of associated costs.


Mortgage Servicing COVID-19 Pandemic Response Metrics: Observations from Data Reported by Sixteen Servicers

This report presents the CFPB’s observations of data provided by sixteen large mortgage servicers regarding COVID-19 pandemic response, including key metrics such as call center data; forbearance requests, denials, and exits; delinquency; and borrower profiles.