The Broken Credit System
Small Business Credit, Commercial Credit
The hypothesis: big bank lending was down and it was impacting local economies. Drawing on the large pool of PayNet data, Harvard laid out a study to see if this was true--and if so, the reasoning behind it. PayNet SVP & GM William Phelan lays out the startling findings of the study, showing how the decline of big bank lending impacted local economies during and after the Great Recession.