Payments Card Center Releases New Discussion Papers

The Payments Card Center of the Federal Reserve Bank of Philadelphia has released two new discussion papers:

The first, “Forum on Validation of Consumer Credit Risk Models (PDF),” summarizes the discussion from a one-day conference of the same name held on November 19, 2004 in conjunction with Wharton’s Financial Institutions Center. The conference brought together leading academics, policymakers, and industry experts to discuss the general principles management can use as keys for effective model validation and risk assessment.

The second, “The Cost Effectiveness of Stored-Value Products for Unbanked Consumers (PDF),” is based on a March 30, 2005 workshop led by Sherrie L.W. Rhine and Sabrina Su of the Federal Reserve Bank of New York’s Office of Regional and Community Affairs. Rhine and Su discussed the relevance of stored-value cards to “unbanked” or underserved consumers.