- Published
- 2021-05-28
- Venue
- Journal of Financial Economics, vol. 143, no. 1, pp. 30-56
- Cited by
- 650
- Open access
- Yes, green
- DOI
- 10.1016/j.jfineco.2021.05.047
Abstract
U.S. fair-lending law prohibits lenders from making credit determinations that disparately affect minority borrowers if those determinations are based on characteristics unrelated to creditworthiness. Using an identification under this rule, we show risk-equivalent Latinx/Black borrowers pay significantly higher interest rates on GSE-securitized and FHA-insured loans, particularly in high-minority-share neighborhoods. We estimate these rate differences cost minority borrowers over $450 million yearly. FinTech lenders’ rate disparities were similar to those of non-Fintech lenders for GSE mortgages , but lower for FHA mortgages issued in 2009–2015 and for FHA refi mortgages issued in 2018–2019.
Cite this paper
Formatted from the source metadata, not typed by hand. For a whole reference list, use the citation generator or ask your assistant through Find Research.
- APA 7
Bartlett, R. P., Morse, A., Stanton, R., & Wallace, N. E. (2021). Consumer-lending discrimination in the FinTech Era. Journal of Financial Economics, 143(1), 30–56. https://doi.org/10.1016/j.jfineco.2021.05.047
- MLA 9
Bartlett, Robert P., et al. "Consumer-lending discrimination in the FinTech Era." Journal of Financial Economics, vol. 143, no. 1, 2021, pp. 30–56, https://doi.org/10.1016/j.jfineco.2021.05.047.
- Chicago
Bartlett, Robert P., Adair Morse, Richard Stanton, and Nancy E. Wallace. "Consumer-lending discrimination in the FinTech Era." Journal of Financial Economics 143, no. 1 (2021): 30–56. https://doi.org/10.1016/j.jfineco.2021.05.047.
- GOST
Bartlett R. P., Morse A., Stanton R. [и др.] Consumer-lending discrimination in the FinTech Era // Journal of Financial Economics. — 2021. — Vol. 143, № 1. — P. 30–56. — URL: https://doi.org/10.1016/j.jfineco.2021.05.047
- BibTeX
@article{bartlett2021consumerlending, title = {{Consumer-lending discrimination in the FinTech Era}}, author = {Robert P. Bartlett and Adair Morse and Richard Stanton and Nancy E. Wallace}, journal = {Journal of Financial Economics}, year = {2021}, volume = {143}, number = {1}, pages = {30--56}, doi = {10.1016/j.jfineco.2021.05.047}, url = {https://doi.org/10.1016/j.jfineco.2021.05.047} }- RIS
TY - JOUR AU - Bartlett, Robert P. AU - Morse, Adair AU - Stanton, Richard AU - Wallace, Nancy E. TI - Consumer-lending discrimination in the FinTech Era JO - Journal of Financial Economics VL - 143 IS - 1 SP - 30 EP - 56 PY - 2021 DA - 2021/05/28 DO - 10.1016/j.jfineco.2021.05.047 UR - https://doi.org/10.1016/j.jfineco.2021.05.047 ER -