1、 BIS Working Papers No 1103 Privacy regulation and fintech lending by Sebastian Doerr,Leonardo Gambacorta,Luigi Guiso and Marina Sanchez del Villar Monetary and Economic Department June 2023 JEL classification:G21,G23,G28.Keywords:Data privacy,data sharing,fintech,privacy regulation,CCPA.BIS Working

2、 Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements,and from time to time by other economists,and are published by the Bank.The papers are on subjects of topical interest and are technical in character.The views expressed in them are those

3、 of their authors and not necessarily the views of the BIS.This publication is available on the BIS website(www.bis.org).Bank for International Settlements 2023.All rights reserved.Brief excerpts may be reproduced or translated provided the source is stated.ISSN 1020-0959(print)ISSN 1682-7678(online

4、)Privacy regulation and fintech lendingS.DoerrL.GambacortaL.GuisoM.Sanchez del VillarJune 2023AbstractIndividuals have concerns about sharing data,but without access to personal in-formation data-intensive fintechs cannot prosper,nor consumers benefit from theirservices.Well-designed privacy protect

5、ion regulation needs to address this con-flict.This paper studies how the California Consumer Privacy Act(CCPA),a2020 privacy law that grants users control over data and mitigates concerns oversharing them,affects bank and fintech lending in the mortgage market.Using adifference-in-differences strat

6、egy comparing counties along the California border,we establish that the CCPA increases loan applications to fintechs by significantlymore than those to banks,raising fintechs market share by 19%.Consistent withan improved screening process due to applicants greater willingness to share datawith fin