by Christian Whittle | Mar 8, 2023 | Recent News - Tom Miller
For centuries, rulers and lawmakers have imposed interest rate caps. These caps likely stem from the widely held belief that caps make loans cheaper for necessitous individuals. This belief persists today. But suppose the belief is wrong? Economic theory...
by Christian Whittle | Feb 16, 2023 | Recent News - Tom Miller
College football fans were treated to a thrilling end to this year’s college football season, including the exhilarating slugging matches in the semi-finals and Georgia’s decisive win in the championship. But after the hubbub dies down, we cannot ignore the...
by Christian Whittle | Feb 16, 2023 | Recent News - Tom Miller
Economic theory predicts that a binding interest-rate cap decreases credit availability for high-risk borrowers. On March 23, 2021, Illinois imposed an all-in interest-rate cap of 36 percent per annum for loans under $40,000 from non-bank and non-credit-union lenders....
by Christian Whittle | Feb 16, 2023 | Recent News - Tom Miller
Using data for the last quarter of 2020 and first three quarters of 2021, the study examined the effects of the 36% rate cap imposed by the Illinois Predatory Loan Prevention Act which became effective in March 2021. The study found that the cap significantly...
by Amanda Dovel | Feb 10, 2022 | Recent News - Tom Miller
Profs. Zywicki and Miller have co-authored a soon-to-be published study, “The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market,” in which they analyzed 15.6 million storefront payday loans made to 1.8 million unique borrowers in 2013 to...
by Amanda Dovel | Jan 31, 2022 | Recent News - Tom Miller
On January 10th, the Georgia Bulldogs won the FBS National Championship over the Alabama Crimson Tide. More than 67,000 paying fans attended, and millions more watched on ESPN. It’s the Big Time. But now what? Last year, the two teams had 14 players drafted in...
