The geography of fringe banking

Christopher Stiles Fowler, Jane K. Cover, Rachel Garshick Kleit

Research output: Contribution to journalArticle

9 Citations (Scopus)

Abstract

U.S. financial services are bifurcated into a traditional banking sector that serves wealthier individuals and a less regulated alternative financial services sector (payday lenders, check cashers, etc.) catering to lower income individuals. What determines the spatial distribution of fringe banks? First, at the county level, fringe banks do not fill a spatial void in traditional services. Second, whether fringe providers disproportionately locate in counties with more minorities depends on the service and the minority population. Finally, pawnshop prevalence is shaped by restrictions on interest and fees, but the location of payday lenders and check cashers is not sensitive to such regulation.

Original languageEnglish (US)
Pages (from-to)688-710
Number of pages23
JournalJournal of Regional Science
Volume54
Issue number4
DOIs
StatePublished - Jan 1 2014

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financial services
financial service
banking
bank
minority
geography
service sector
tertiary sector
fee
void
low income
income
spatial distribution
regulation
county
services

All Science Journal Classification (ASJC) codes

  • Environmental Science (miscellaneous)
  • Development

Cite this

Fowler, Christopher Stiles ; Cover, Jane K. ; Kleit, Rachel Garshick. / The geography of fringe banking. In: Journal of Regional Science. 2014 ; Vol. 54, No. 4. pp. 688-710.
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The geography of fringe banking. / Fowler, Christopher Stiles; Cover, Jane K.; Kleit, Rachel Garshick.

In: Journal of Regional Science, Vol. 54, No. 4, 01.01.2014, p. 688-710.

Research output: Contribution to journalArticle

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