Wharton Public Policy Initiative Issue Briefs
Publication Date
5-2017
Files
Download Full Text (1.2 MB)
Volume
5
Number
4
Document Type
Brief
Summary
Consumer protection regulation targets services like payday lenders under the presumption that these services can be predatory and associated with high costs. Yet an increasing number of Americans are utilizing such alternative financial services and joining the ranks of the “unbanked” and “underbanked.” Altering this status quo and promoting greater middle-class stability will require that policymakers foster innovation in the development of high-quality, transparent, and consumer-oriented financial services within the mainstream banking system.
License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License
View on Penn Wharton PPI Website
Recommended Citation
Servon, Lisa, "The Issue at the Heart of America’s Great Unbanking" (2017). Wharton Public Policy Initiative Issue Briefs. 44.
https://repository.upenn.edu/pennwhartonppi/44