Available at: https://libertystreeteconomics.newyorkfed.org/2026/03/sports-betting-is-everywhere-especially-on-credit-reports/
Summary (Liberty Street Economics + NY Fed Staff Report)
The Federal Reserve’s analysis confirms what many consumer bankruptcy attorneys have been seeing anecdotally: legalized sports betting is not just entertainment—it is increasingly showing up as measurable financial distress.
Abstract:
For decades low-income families have relied on the filing of individual income tax returns to claim critical social welfare benefits in the form of refundable tax credits, most notably the Earned Income Tax Credit and the Child Tax Credit. But what happens to those families when the social safety net is not enough to meet their financial obligations, and they must seek a fresh start by filing for bankruptcy?
In November 2022, the Department of Justice and Department of Education announced sweeping reforms designed to make student loan bankruptcy discharge more accessible to struggling borrowers.
