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There is a .pdf file to download. Lots of interesting info. The abstract is below.
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act. We use a panel data set covering 160 million credit card accounts and a difference-in-differences research design that compares changes in outcomes over time for consumer credit cards, which were subject to the regulations, to changes for small business credit cards, which the law did not cover. We estimate that regulatory limits on credit card fees reduced overall borrowing costs by an annualized 1.6% of average daily balances, with a decline of more than 5.3% for consumers with FICO scores below 660. We find no evidence of an offsetting increase in interest charges or a reduction in the volume of credit. Taken together, we estimate that the CARD Act saved consumers $11.9 billion per year. We also analyze a nudge that disclosed the interest savings from paying off balances in 36 months rather than making minimum payments. We detect a small increase in the share of accounts making the 36-month payment value but no evidence of a change in overall payments.
I'm helping a friend with getting IRS tax liens withdrawn and removed from their credit report. Thus far, Experian and TransUnion were cleared fairly easily, however, Equifax is proving tricky.
There are three records reporting on Equifax, two of them we should eventually prevail on because the IRS has withdrawn them and we have proof of that and these were the two recently removed from Experian and TransUnion, however, Equifax has a third entry that the IRS says they did not report and thus cannot withdraw. It is for an adjacent county and matches the amount of one of the other two valid ones in the correct county of residence. The IRS says they cannot withdraw a lien they did not file. My friend has not moved in over ten years and has never lived in this other county.
What should we do about this lien on the report that the IRS says they never placed since it is the wrong county court? Should we go into the court and request some kind of report that there are no liens for that name or amount? I imagine there is some kind of computer glitch here, but not sure how to proceed. Could this lien be on his Lexis-Nexis report and we need to dispute there first so that it does not appear confirmed when Equifax looks into it?
Ok, so i have a question. Equifax is my lowest score. Eq has not updated my credit limit increases or the fact that I have paid off my VS and my Cap1 all of this since Oct. No Update.... The other two show the correct amounts. Should I dispute the balances/limits? If so, can (should) I do it online? Thanks a bunch for your help!