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Author : National Consumer Council
Publisher :
ISBN 13 : 9781899581207
Total Pages : 46 pages
Book Rating : 4.5/5 (812 download)
Download or read book Financial Services and Low-Income Consumers written by National Consumer Council and published by . This book was released on 1995-12-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julia Sass Rubin
Publisher : Russell Sage Foundation
ISBN 13 : 1610444817
Total Pages : 341 pages
Book Rating : 4.6/5 (14 download)
Download or read book Financing Low Income Communities written by Julia Sass Rubin and published by Russell Sage Foundation. This book was released on 2007-11-15 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to capital and financial services is crucial for healthy communities. However, many impoverished individuals and neighborhoods are routinely ignored by mainstream financial institutions. This neglect led to the creation of community development financial institutions (CDFIs), which provide low-income communities with financial services and act as a conduit to conventional financial organizations and capital markets. Edited by Julia Sass Rubin, Financing Low-Income Communities brings together leading experts in the field to assess what we know about the challenges of bringing financial services and capital to poor communities, map out future lines of research, and propose policy reforms to make these efforts more effective. The contributors to Financing Low-Income Communities distill research on key topics related to community development finance. Daniel Schneider and Peter Tufano examine the obstacles that make saving and asset accumulation difficult for low-income households—such as the fact that tens of millions of low-income and minority adults don't have a bank account—and consider solutions, like making it easier for low-wage workers to enroll in 401(K) plans. Jeanne Hogarth, Jane Kolodinksy, and Marianne Hilgert review evidence showing that community-based financial education programs can be effective in changing families' saving and budgeting patterns. Lisa Servon proposes strategies for addressing the challenges facing the microenterprise field in the United States. Julia Sass Rubin discusses ways community loan and venture capital funds have adapted in response to the decreased availability of funding, and considers potential sources of new capital, such as state governments and public pension funds. Marva Williams explores the evolution and recent performance of community development banks and credit unions. Kathleen Engel and Patricia McCoy document the proliferation of predatory lenders, who market loans at onerous interest rates to financially vulnerable families and the devastating effects of such lending on communities—from increased crime to falling home values and lower tax revenues. Rachel Bratt reviews the policies and programs used to make rental and owned housing financially accessible. Rob Hollister proposes a framework for evaluating the contributions of community development financial institutions. Despite the many accomplishments of CDFIs over the last four decades, changing political and economic conditions make it imperative that they adapt in order to survive. Financing Low-Income Communities charts out new directions for public and private organizations which aim to end the financial exclusion of marginalized neighborhoods.
Author : J. Collins
Publisher : Springer
ISBN 13 : 1137482370
Total Pages : 234 pages
Book Rating : 4.1/5 (374 download)
Download or read book A Fragile Balance written by J. Collins and published by Springer. This book was released on 2015-03-11 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Fragile Balance examines strategies to promote emergency savings, especially among underserved households. Each chapter is by an expert contributor and proposes an innovative financial product or service designed to bolster emergency savings among low-asset families. This collection also offers readers insights into the role of emergency savings and mechanisms to facilitate savings behaviors, and raises critical questions of the scale, institutional capacity, sustainability, accessibility, and effectiveness of existing programs.
Author : Michael S. Barr
Publisher : Brookings Institution Press
ISBN 13 : 0815722338
Total Pages : 308 pages
Book Rating : 4.8/5 (157 download)
Download or read book No Slack written by Michael S. Barr and published by Brookings Institution Press. This book was released on 2012 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis exposed unsavory results of interactions between low- and moderate-income households and alternative and mainstream financial institutions: overleveraged incomes, high cost for financial services, and lack of access to useful financial products that can cushion against economic instability. It revealed a financial services system that is not well designed to serve these households, leaving them without financial slack. Pivotal analysis, focusing on metropolitan Detroit's low- and moderate-income neighborhoods, examines household decision making processes, behaviors, and attitudes toward a full range of financial transactions during the subprime lending boom. The author advocates helping families seek financial stability in three primary ways: enhancing individuals' financial capability, using technology to promote access to financial products and services that meet their needs, and establishing strong protections for consumers.
Author : Mr.Tobias Adrian
Publisher : International Monetary Fund
ISBN 13 : 1498324908
Total Pages : 20 pages
Book Rating : 4.4/5 (983 download)
Download or read book The Rise of Digital Money written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2019-07-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
Author : Oscar Cortez
Publisher : Nova Science Publishers
ISBN 13 : 9781634845519
Total Pages : 0 pages
Book Rating : 4.8/5 (455 download)
Download or read book Mobile Financial Services for Economically Vulnerable and Underserved Consumers written by Oscar Cortez and published by Nova Science Publishers. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer financial services market has seen the increasing use and proliferation of mobile technology to access financial services and manage personal finances. The Consumer Financial Protection Bureau's Office of Financial Empowerment issued a Request for Information (RFI) to find out more about mobile financial services and how low-income and economically vulnerable consumers are using them. This book provides a description of mobile financial services, a discussion of the opportunities and risks, and key takeaways from the comments. Furthermore, this book considers the ability of mobile financial services to increase financial inclusion among the underserved by providing them access to the banking system, retaining them in safe and sustainable account relationships, and fostering financial empowerment to improve financial stability and fulfill financial goals.
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer Affairs
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (327 download)
Download or read book The Ability of Consumers to Plan Their Financial Affairs written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer Affairs and published by . This book was released on 1988 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Credit and Insurance
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.F/5 ( download)
Download or read book Banking Services in Low- and Moderate-income Communities written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Credit and Insurance and published by . This book was released on 1995 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rebecca M. Blank
Publisher : Russell Sage Foundation
ISBN 13 : 1610445880
Total Pages : 336 pages
Book Rating : 4.6/5 (14 download)
Download or read book Insufficient Funds written by Rebecca M. Blank and published by Russell Sage Foundation. This book was released on 2009-03-26 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: One in four American adults doesn’t have a bank account. Low-income families lack access to many of the basic financial services middle-class families take for granted and are particularly susceptible to financial emergencies, unemployment, loss of a home, and uninsured medical problems. Insufficient Funds explores how institutional constraints and individual decisions combine to produce this striking disparity and recommends policies to help alleviate the problem. Mainstream financial services are both less available and more expensive for low-income households. High fees, minimum-balance policies, and the relative scarcity of banks in poor neighborhoods are key factors. Michael Barr reports the results of an in-depth study of financial behavior in 1,000 low- and moderate-income families in metropolitan Detroit. He finds that most poor households have bank accounts, but combine use of mainstream services with alternative options such as money orders, pawnshops, and payday lenders. Barr suggests that a tax credit for banks serving primarily disadvantaged customers could facilitate greater equality in the private financial sector. Drawing on evidence from behavioral economics, Sendhil Mullainathan and Eldar Shafir show that low-income individuals exhibit many of the same patterns and weaknesses in financial decision making as middle-class individuals and could benefit from many of the same financial aids. They argue that savings programs that automatically enroll participants and require them to actively opt out in order to leave the program could drastically increase savings ability. Ronald Mann demonstrates that significant changes in the credit market over the past fifteen years have allowed companies to expand credit to a larger share of low-income families. Mann calls for regulations on credit card companies that would require greater disclosure of actual interest rates and fees. Raphael Bostic and Kwan Lee find that while home ownership has risen dramatically over the past twenty years, elevated risks for low-income families—such as foreclosure—may well outweigh the benefits of owning a home. The authors ultimately argue that if we want to demand financial responsibility from low-income households, we have an obligation to assure that these families have access to the banking, credit, and savings institutions that are readily available to higher-income families. Insufficient Funds highlights where and how access is blocked and shows how government policy and individual decisions could combine to eliminate many of these barriers in the future.
Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs and Coinage
Publisher :
ISBN 13 :
Total Pages : 674 pages
Book Rating : 4.F/5 ( download)
Download or read book Consumer Access to Basic Financial Services written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs and Coinage and published by . This book was released on 1990 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : World Bank Publications
ISBN 13 : 0821377558
Total Pages : 108 pages
Book Rating : 4.8/5 (213 download)
Download or read book Banking the Poor written by and published by World Bank Publications. This book was released on 2009-01-01 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking the Poor explores level and determinants of financial access in 54 countries, mostly in Africa. It collects information from two sources: central banks and leading commercial banks in each surveyed country. It explores associations between countries' banking policies and practices and their levels of financial access, measured in terms of the numbers of bank account per thousand adults. It builds on the previous work measuring financial access through information from regulators, from banks, and also from users' perspectives in household surveys.
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher :
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.0/5 (12 download)
Download or read book Serving the Underserved written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2003 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Federal Credit Unions Bureau
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (319 download)
Download or read book Project Moneywise written by United States. Federal Credit Unions Bureau and published by . This book was released on 1967 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Asli Demirguc-Kunt
Publisher : World Bank Publications
ISBN 13 : 1464812683
Total Pages : 148 pages
Book Rating : 4.4/5 (648 download)
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author : United States. Congress. House. Select Committee on Aging. Subcommittee on Housing and Consumer Interests
Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.F/5 ( download)
Download or read book Banking Reform written by United States. Congress. House. Select Committee on Aging. Subcommittee on Housing and Consumer Interests and published by . This book was released on 1988 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.:/5 (327 download)
Download or read book Financial services issues written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2004 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Consumer Affairs
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.F/5 ( download)
Download or read book Consumer Benefits Associated with the Changing Financial Services Environment written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Consumer Affairs and published by . This book was released on 1986 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
