Using the Surveys of Consumer Finances from 1992 to 1998, this article explores the reasons for not having a checking account, including product design, human capital, motivation for having a checking account, and institutional factors. Focusing primarily on reasons related to product design, we...

The greater reluctance of low-income, low-wealth Black families to use checking and savings accounts than of low-income, low-wealth White families is only partially explained by regression models that consider a wide array of demographic variables. The greater reluctance impedes Black families...

This article examines the relationship between income and saving performance in Individual Development Accounts (IDAs). The authors first discuss theories of saving. Next, for IDA participants in the American Dream Demonstration (ADD), they look at income sources and distribution, followed by...

The tremendous growth in the demand for very small, short-term loans by credit constrained households is being largely filled by companies offering payday loans. This article explores the explosive growth of payday lending as a source of short-term consumer credit in low- and moderate-income...

This study uses logit and multinomial logit models and data from a nationwide random sample of rent-to-own (RTO) customers to investigate financial, demographic, regulatory, and other factors associated with consumer use of RTO transactions and the purchase of RTO merchandise. The analysis...