Data and Code for: Using Technology to Tackle Discrimination in Lending: The Role of FinTechs in the Paycheck Protection Program
Principal Investigator(s): View help for Principal Investigator(s) Rachel M. B. Atkins, New York University; Lisa Cook, Michigan State University; Robert Seamans, New York University
Version: View help for Version V1
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Project Citation:
Atkins, Rachel M. B., Cook, Lisa, and Seamans, Robert. Data and Code for: Using Technology to Tackle Discrimination in Lending: The Role of FinTechs in the Paycheck Protection Program. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-05-16. https://doi.org/10.3886/E169641V1
Project Description
Summary:
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We study Paycheck Protection Program (PPP) lending by FinTechs. The Paycheck
Protection Program (PPP) was one of the many policy interventions by the U.S.
government during the Covid-19 pandemic. We find that PPP loans from the
Top-5 large commercial banks to Black borrowers are approximately 59 percent
smaller than observationally similar White borrowers. On the other hand, PPP
loans from FinTechs to Black borrowers are approximately 13 percent smaller
than observationally similar White borrowers. Our results suggest that FinTech
models may reduce some but not all of the Black - White disparities in small
business lending outcomes.
Scope of Project
Subject Terms:
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lending discrimination;
fintech;
paycheck protection program
JEL Classification:
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G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
G23 Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
G28 Financial Institutions and Services: Government Policy and Regulation
J15 Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
J23 Labor Demand
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
G23 Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
G28 Financial Institutions and Services: Government Policy and Regulation
J15 Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
J23 Labor Demand
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