In the wake of the housing crisis in 2008, U.S. policymakers have developed a range of policy proposals to address the risk of mortgage borrowers going into payment default. Some of these proposed regulations would effectively eliminate certain loans with riskier borrower characteristics from...

<b>Millions of minority homeowners are at risk of losing their homes as a result of the housing crisis due to mortgage foreclosure and home repossession. One consumer-oriented policy response to this crisis is mortgage default counseling for borrowers. This study examines the rate at which minority...</b>

This paper uses repeated cross-sectional data from the Surveys of Consumer Finances (SCF) to characterize cohort patterns of net worth and debt of American households. Cohort patterns provide a useful benchmark for identifying potentially vulnerable households based on relative financial...

This paper analyzes 26 studies that assess the impact of financial education and counseling targeted to low- and moderate-income consumers. Most studies report significant and positive findings, but the magnitude of impacts is often small compared to a control group. The evidence of behavior...

In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of...