Exploring Racial/Ethnic Disparities in the Use of Alternative Financial Services: The Moderating Role of Financial Knowledge

Kim, Kyoung Tae; Lee, Jonghee; Lee, Jae Min

doi:10.1007/s12552-019-09259-y

Cited by 16 publications

(18 citation statements)

References 23 publications

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“…Nationally, a larger percent of African American households use payday loans compared to White households (3.7% and 1.1%, respectively; FDIC, 2020a); however, this difference in use by race may not be statistically significant. Minorities tend to have limited access to banks and credit unions, which contribute to the decision to use payday loans (Kim et al., 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Lived Experiences with Payday Loans: African American Single Mothers and Employees

Riley¹,

Green²,

Zuiker

2022

Family & Consum Sci Res J

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Payday loans are disproportionately used by African Americans and women including single mothers. Little empirical research exists incorporating data from payday loan employees. This exploratory study used a phenomenological approach and in‐depth interviews to examine the lived experiences of two groups: African American single mothers who used payday loans and former payday loan employees who extended and collected on payday loans. The interviews resulted in four themes from the single mothers' experiences including “right decision at the time” and “it's addictive” and five themes from the former employees including “help the customer come back” and “relating to the customers.”

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Section: Literature Reviewmentioning

confidence: 99%

Lived Experiences with Payday Loans: African American Single Mothers and Employees

Riley¹,

Green²,

Zuiker

2022

Family & Consum Sci Res J

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“…We do not observe any difference in the impact of income and wealth between developed and developing countries. Household income and/or wealth is found to be a significant determinant of obtaining formal credit in the US (Dunham, 2019;Kim et al, 2019), Netherlands (Aalbers, 2007), UK (Deku et al, 2015), Canada (Simpson and Buckland, 2009), France (Cozarenco and Szafarz, 2018;Nuzzo and Piermattei, 2019), Germany, Italy and Spain (Nuzzo and Piermattei, 2019).…”

Section: Income and Wealthmentioning

confidence: 99%

“…Wealth is found to be a key determinant of financial credit exclusion in the context of payday loan borrowing in Canada (Islam and Simpson, 2017). In the US, check cashing outlets are more prevalent than banks in areas where the median household income is lower (Dunham, 2019) and payday loans and pawnshops are more likely to be used by lower income households (Kim et al, 2019). In China, the incidence of informal loans is reported to be more prevalent in poorer regions (Cull et al, 2018).…”

Section: Income and Wealthmentioning

confidence: 99%

Achieving the United Nations' sustainable development goals through financial inclusion: A systematic literature review of access to finance across the globe

Kara

Zhou

2021

International Review of Financial Analysis

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“…Ethnic minorities in the US are more likely to utilize alternative financial service providers (check cashing, money orders, etc.) [46,47] compared to commercial banking institutions and personal checking accounts. As such, task-based methods that require individuals to apply skills related to the management of a personal checking account (e.g., balancing a fictitious checkbook) are likely to amplify performance differences.…”

Section: Discussionmentioning

confidence: 99%

Ensemble machine learning classification of daily living abilities among older people with HIV

et al. 2021

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Background: clinically relevant methods to identify individuals at risk for impaired daily living abilities secondary to neurocognitive impairment (ADLs) remain elusive. This is especially true for complex clinical conditions such as HIV-Associated Neurocognitive Disorders (HAND). The aim of this study was to identify novel and modifiable factors that have potential to improve diagnostic accuracy of ADL risk, with the long-term goal of guiding future interventions to minimize ADL disruption. Methods: study participants included 79 people with HIV (PWH; mean age = 63; range = 55À80) enrolled in neuroHIV studies at University California San Francisco (UCSF) between 2016 and 2019. All participants were virally suppressed and exhibited objective evidence of neurocognitive impairment. ADL status was defined as either normative (n = 39) or at risk (n = 40) based on a task-based protocol. Gradient boosted multivariate regression (GBM) was employed to identify the combination of variables that differentiated ADL subgroup classification. Predictor variables included demographic factors, HIV disease severity indices, brain white matter integrity quantified using diffusion tensor imaging, cognitive test performance, and health co-morbidities. Model performance was examined using average Area Under the Curve (AUC) with repeated fivefold cross validation. Findings: the univariate GBM yielded an average AUC of 83% using Wide Range Achievement test 4 (WRAT-4) reading score, self-reported thought confusion and difficulty reading, radial diffusivity (RD) in the left external capsule, fractional anisotropy (FA) in the left cingulate gyrus, and Stroop performance. The model allowing for two-way interactions modestly improved classification performance (AUC of 88%) and revealed synergies between race, reading ability, cognitive performance, and neuroimaging metrics in the genu and uncinate fasciculus. Conversion of Neuropsychological Assessment Battery Daily Living Module (NAB-DLM) performance from raw scores into T scores amplified differences between White and non-White study participants. Interpretation: demographic and sociocultural factors are critical determinants of ADL risk status among older PWH who meet diagnostic criteria for neurocognitive impairment. Task-based ADL assessment that relies heavily on reading proficiency may artificially inflate the frequency/severity of ADL impairment among diverse clinical populations. Culturally relevant measures of ADL status are needed for individuals with acquired neurocognitive disorders, including HAND.

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Exploring Racial/Ethnic Disparities in the Use of Alternative Financial Services: The Moderating Role of Financial Knowledge

Cited by 16 publications

References 23 publications

Lived Experiences with Payday Loans: African American Single Mothers and Employees

Lived Experiences with Payday Loans: African American Single Mothers and Employees

Achieving the United Nations' sustainable development goals through financial inclusion: A systematic literature review of access to finance across the globe

Ensemble machine learning classification of daily living abilities among older people with HIV

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