Predatory Lending Laws and the Cost of Credit
研究了美国各州及地方针对次贷市场的掠夺性贷款法律是否影响信贷成本，发现法律最多导致成本小幅上升，但影响因贷款类型而异：固定利率贷款成本小幅上升，浮动利率贷款成本小幅下降。
Various states and other local jurisdictions have enacted laws intending to reduce predatory and abusive lending in the subprime mortgage market. These laws have created substantial geographic variation in the regulation of mortgage credit. This article examines whether these laws are associated with a higher or lower cost of credit. Empirical results indicate that the laws are associated with at most a modest increase in cost. However, the impact depends on the product type. In particular, loans with fixed (adjustable) rates are associated with a modest increase (decrease) in cost.