This research utilized a unique supply of nationwide data on pay day loans supplied towards the writers by a market trade team, the Community Financial solutions Association of America (CFSA). The info set consisted of the universe of payday advances originated by five storefront that is national lending chains with areas across the nation. It included info on over ninety-three million loans, which was in fact deidentified for research purposes. For every loan, we observed the times that the mortgage ended up being made and had been due, the results of this loan (as an example, a standard or late repayment), while the ZIP code for the payday lenderвЂ™s storefront. The information set covered all loans from 2009 through early months of 2014. Appendix display A1 maps the states within the information set. 16
We dedicated to the state of Ca, which entered into an understanding aided by the management of President Barack Obama for very very early county-by-county utilization of the ACAвЂ™s Medicaid expansion in 2011 and 2012. We learned the first expansions in Ca, because our information didn’t give you a adequately very long time show to examine the 2014 expansions and offered reasonably little details about loans in other very early expansion states. We compared California counties that title loans Tennessee expanded Medicaid early to counties nationwide that didn’t do this, including four Ca counties that delayed expansion.
We aggregated the CFSA information to your county-month degree, producing loan that is aggregate, standard prices, as well as other measures of loan volumes and results in each county and thirty days combination.