Consumer Financial Services

Research and analysis on products, services and conditions that promote or inhibit wealth creation and economic mobility.

Research Report | October 2003
Financial Institutions and Individual Development Accounts: Results of a National Survey
Researchers survey all financial institutions currently offering ndividual Development Account (IDA) programs to assess how well they work and how they might achieve scale.

Book Chapter | September 2003
Banking the Unbanked: Connecting Residents of Social Housing to the Financial Mainstream
Housing and Social Change East-West Perspectives
Michael A. Stegman
A decision to save taxpayer money by delivering government benefits electronically could help bring low-income people into the financial mainstream.

Working Paper | July 23, 2003
Standard Bank of South Africa’s E Plan: Harnessing ATM Technology to Expand Banking Services
Jennifer S. Lobenhofer, Caryn Bredenkamp, Michael A. Stegman
Researchers examine the potential sustainability of the business model underlying the electronic banking product offered for low-income customers by South Africa's second largest retail bank.

Published Article – Peer Reviewed | February 2003
Payday Lending: A Business Model that Encourages Chronic Borrowing
Economic Development Quarterly
Michael A. Stegman, Robert Faris
Researchers examine the explosive growth of payday lending as a source of short-term consumer credit in low-income communities and the high incidence of perpetual indebtedness of payday borrowers.

Published Article | Winter 2002
Bringing More Affordable Financial Services to the Inner City: The Bethex Federal Credit Union-RiteCheck Cashing Inc. Partnership
Building Blocks
Michael A. Stegman, Jennifer S. Lobenhofer
Center researchers examine a partnership between a federal credit union and a retail check casher to expand financial services for lower-income consumers.

Published Article – Peer Reviewed | Summer 2002
Toward a More Performance-Driven Service Test: Strengthening Basic Banking Services under the Community Reinvestment Act
Georgetown Journal on Poverty Law & Policy
Michael A. Stegman, Kelly Thompson Cochran, Robert Faris
Researchers find the Community Reinvestment Act (CRA) service test provides minimal incentive for banks to serve unbanked and underserved populations and recommends 10 reforms to strengthen CRA as a tool for helping more families enter the financial mainstream.

Policy Brief | March 2002
Creating a Scorecard for the CRA Service Test: Strengthening Banking Services Under the Community Reinvestment Act
The Brookings Institution Policy Brief
Michael A. Stegman, Kelly Thompson Cochran, Robert Faris
The Community Reinvestment Act service test could provide important incentives for banks to serve the unbanked and underbanked populations.

NCFinancial ServicesSurvey
Research Report | October 2001
North Carolina Financial Services Survey
Michael A. Stegman, Robert Faris
Researchers assessed the composition and needs of unbanked working N.C. families and whether North Carolina should expand financial services as part of welfare reform.

Published Article | August 2001
Banking the Unbanked: Untapped Market Opportunities for North Carolina’s Financial Institutions
North Carolina Banking Institute Journal
Michael A. Stegman
The federal transition to electronic funds transfer (EFT) of government benefits through direct deposit presents new opportunities for financial institutions in North Carolina to better serve unbanked and marginally banked populations.

Published Article | Spring 2001
The Public Policy Challenges of Payday Lending
Popular Government
Michael A. Stegman
North Carolina policymakers and regulators should take three actions to protect consumers from payday lenders.

The UNC Center for Community Capital conducts research and policy analysis on ways to make financial services work better for more people and communities.


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