Search Results
Discussion Paper
Banking the Unbanked: The Past and Future of the Free Checking Account
Berre, Stein; Blickle, Kristian S.; Chakrabarti, Rajashri
(2021-06-30)
About one in twenty American households are unbanked (meaning they do not have a demand deposit or checking account) and many more are underbanked (meaning they do not have the range of bank-provided financial services they need). Unbanked and underbanked households are more likely to be lower-income households and households of color. Inadequate access to financial services pushes the unbanked to use high-cost alternatives for their transactional needs and can also hinder access to credit when households need it. That, in turn, can have adverse effects on the financial health, educational ...
Liberty Street Economics
, Paper 20210630a
Partners in Innovation: Community Banks and Fintech Firms
White, Carl
(2021-12-23)
Community banks looking to innovate and increase efficiency may team up with fintech firms. What do these partnerships look like, and what are the risks?
On the Economy
Journal Article
Fintech, Racial Equity, and an Inclusive Financial System
Sanchez-Moyano, Rocio; Shrimali, Bina
(2021-08-02)
This issue of the Community Development Innovation Review examines the promise and pitfalls of financial technology, or fintech, for fostering racial equity and greater financial inclusion. Edited in partnership with the SF Fed’s Fintech Team and Aspen Institute’s Financial Security Program, this issue brings together a broad set of voices from people working in various roles—including in technology, community development, economic inclusion, regulation, and investment—to contextualize gaps in the financial system and consider ways to address them. The authors examine dimensions of ...
Community Development Innovation Review
, Volume 15
, Issue 2
, Pages 132
Working Paper
Social Capital and Mortgages
An, Xudong; El Ghoul, Sadok; Guedhami, Omrane; Levine, Ross; Roman, Raluca
(2023-10-12)
Using comprehensive mortgage-level data, we discover that the social capital of the community in which households live positively influences the likelihood of the approval of their mortgage applications, the terms of approved mortgages, and the subsequent performance of those mortgages. The results hold when conditioning on extensive household and community characteristics and a battery of fixed effects, including individual effects, data permitting, and when employing instrumental variables and propensity score matching to address identification and selection concerns. Concerning causal ...
Working Papers
, Paper 23-23
Working Paper
Do Fintech Lenders Penetrate Areas That Are Underserved by Traditional Banks?
Lemieux, Catharine; Jagtiani, Julapa
(2018-03-23)
Supersedes Working Paper 17-17 Fintech has been playing an increasing role in shaping financial and banking landscapes. In this paper, we use account-level data from LendingClub and Y-14M data reported by U.S. banks with assets over $50 billion to examine whether the fintech lending platform could expand credit access to consumers. We find that LendingClub?s consumer lending activities have penetrated areas that may be underserved by traditional banks, such as in highly concentrated markets and in areas that have fewer bank branches per capita. We also find that the portion of LendingClub ...
Working Papers
, Paper 18-13
Working Paper
Market Concentration in Fintech
Corbae, Dean; D'Erasmo, Pablo; Liu, Kuan
(2023-06-08)
This paper discusses concentration in consumer credit markets with a focus on fintech lenders and residential mortgages. We present evidence that shows that concentration among fintech lenders is significantly higher than that for bank lenders and other nonbank lenders. The data also show that the overall concentration in mortgage lending has declined between 2011 and 2019, driven mostly by a reduction in concentration among bank lenders. We present a simple model to show that changes in lender financial technology (interpreted as improvements in quality of loan services) explain more than ...
Working Papers
, Paper 23-11
Discussion Paper
Meet People Where They Are: Building Formal Credit Using Informal Financial Traditions
Akana, Tom
(2020-02-20)
The Consumer Finance Institute hosted a workshop in February 2019 featuring José Quiñonez, chief executive officer, and Elena Fairley, programs director, of Mission Asset Fund (MAF) to discuss MAF’s approach to helping its clients improve access to mainstream financial markets. MAF’s signature program, Lending Circles, adapts a traditional community-based financial tool known as a rotating savings and credit association (ROSCA) to help establish or expand credit reports for participants who may not be able to do so through traditional means. Lending Circles have served more than 10,000 ...
Consumer Finance Institute discussion papers
, Paper 20-01
Working Paper
Fintech Lending and Mortgage Credit Access
Lambie-Hanson, Lauren; Lambie-Hanson, Timothy; Jagtiani, Julapa
(2019-11-18)
Following the 2008 financial crisis, mortgage credit tightened and banks lost significant mortgage market share to nonbank lenders, including to fintech firms recently. Have fintech firms expanded credit access, or are their customers similar to those of traditional lenders? Unlike in small business and unsecured consumers lending, fintech mortgage lenders do not have the same incentives or flexibility to use alternative data for credit decisions because of stringent mortgage origination requirements. Fintech loans are broadly similar to those made by traditional lenders, despite innovations ...
Working Papers
, Paper 19-47
Digital Banking: A Look at the Playing Field
White, Carl
(2020-12-31)
Fintech developments have turbocharged banking services competition, leading to more offerings or specialization.
On the Economy
Working Paper
Credit Availability for Minority Business Owners in an Evolving Credit Environment: Before and During the COVID-19 Pandemic
Barkley, Brett; Schweitzer, Mark E.
(2022-06-02)
We apply data from the Federal Reserve’s Small Business Credit Survey from 2016 to 2020 to estimate disparities in access to small business financing through loan denials and discouragement. We find that substantial credit disparities continue to exist despite the growth of fintech lenders, which prior research shows have expanded the set of small businesses receiving credit. Because the pandemic period brought many direct changes to the business and lending environment, we separately analyze the change to lending in 2020. PPP loans represented an unprecedented support for small businesses, ...
Working Papers
, Paper 22-18
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of Philadelphia 11 items
Federal Reserve Bank of St. Louis 8 items
Federal Reserve Bank of Cleveland 4 items
Federal Reserve Bank of New York 4 items
Federal Reserve Bank of Boston 2 items
Federal Reserve Bank of Kansas City 2 items
Board of Governors of the Federal Reserve System (U.S.) 1 items
Federal Reserve Bank of Atlanta 1 items
Federal Reserve Bank of Chicago 1 items
Federal Reserve Bank of Dallas 1 items
Federal Reserve Bank of Richmond 1 items
Federal Reserve Bank of San Francisco 1 items
show more (7)
show less
FILTER BY Series
Working Papers 14 items
On the Economy 6 items
Speech 4 items
Annual Report 1 items
Chicago Fed Letter 1 items
Community Development Innovation Review 1 items
Consumer Finance Institute discussion papers 1 items
FEDS Notes 1 items
FRB Atlanta Working Paper 1 items
Globalization Institute Working Papers 1 items
Liberty Street Economics 1 items
Payments System Research Briefing 1 items
Research Working Paper 1 items
Richmond Fed Economic Brief 1 items
The Regional Economist 1 items
Working Papers (Old Series) 1 items
show more (11)
show less
FILTER BY Content Type
Working Paper 18 items
Speech 4 items
Discussion Paper 3 items
Briefing 2 items
Journal Article 2 items
Newsletter 1 items
Report 1 items
show more (2)
show less
FILTER BY Author
Jagtiani, Julapa 6 items
White, Carl 5 items
Schweitzer, Mark E. 4 items
Hayashi, Fumiko 3 items
Lambie-Hanson, Lauren 3 items
Allen, Franklin 2 items
Barkley, Brett 2 items
Fuster, Andreas 2 items
Greene, Claire 2 items
Hizmo, Aurel 2 items
Lemieux, Catharine 2 items
Lloro, Alicia 2 items
Shy, Oz 2 items
Stavins, Joanna 2 items
Stiroh, Kevin J. 2 items
Toh, Ying Lei 2 items
Vickery, James 2 items
Willen, Paul S. 2 items
Akana, Tom 1 items
Alcazar, Julian 1 items
An, Xudong 1 items
Auer, Raphael 1 items
Baird, Sam 1 items
Barkely, Brett 1 items
Berre, Stein 1 items
Black, Lamont K. 1 items
Blickle, Kristian S. 1 items
Brookshire, Makaylah 1 items
Bullard, James B. 1 items
Chakrabarti, Rajashri 1 items
Christopoulos, Louie 1 items
Clark Neely, Michelle 1 items
Corbae, Dean 1 items
Cronenweth, Emma 1 items
D'Erasmo, Pablo 1 items
Dolson, Erik 1 items
Dudley, William 1 items
Dumitriu, Alexandra 1 items
Edwards, Andrew 1 items
El Ghoul, Sadok 1 items
Flagg, Jessica N. 1 items
Frame, W. Scott 1 items
Gu, Xian 1 items
Guedhami, Omrane 1 items
Guo, Angela 1 items
Hannon, Simona 1 items
Harker, Patrick T. 1 items
Isaacson, Ken 1 items
Kahn, Charles M. 1 items
Lambie-Hanson, Timothy 1 items
Levine, Ross 1 items
Liu, Kuan 1 items
Markovich, Courtney 1 items
Rhodes, Kristin 1 items
Roman, Raluca 1 items
Sanchez-Moyano, Rocio 1 items
Shrimali, Bina 1 items
Wall, Larry D. 1 items
Wang, Zhu 1 items
White, Lawrence J. 1 items
Wolfe, Brian 1 items
show more (56)
show less
FILTER BY Jel Classification
G21 15 items
G28 12 items
G23 8 items
G18 5 items
L21 4 items
D12 3 items
L5 3 items
C31 2 items
D18 2 items
G2 2 items
R3 2 items
D10 1 items
D14 1 items
D20 1 items
D40 1 items
D71 1 items
D91 1 items
E42 1 items
E51 1 items
E58 1 items
F31 1 items
G01 1 items
G1 1 items
G12 1 items
G20 1 items
G32 1 items
G38 1 items
G51 1 items
J71 1 items
K22 1 items
K24 1 items
L1 1 items
L10 1 items
L50 1 items
M40 1 items
O33 1 items
R20 1 items
R30 1 items
show more (33)
show less
FILTER BY Keywords
fintech 37 items
banking 6 items
financial technology 5 items
COVID-19 4 items
regulation 4 items
Small business lending 4 items
blockchain 4 items
cryptocurrencies 3 items
marketplace lending 3 items
mortgage lending 3 items
CBDC 2 items
P2P lending 2 items
banking competition 2 items
banks 2 items
credit 2 items
credit access 2 items
cryptocurrency 2 items
digital currencies 2 items
diversity 2 items
financial inclusion 2 items
financial intermediation 2 items
firm growth 2 items
mortgage 2 items
online alternative lenders 2 items
payment systems 2 items
peer-to-peer lending 2 items
regtech 2 items
shadow banking 2 items
stablecoins 2 items
supervision 2 items
unbanked 2 items
underserved 2 items
Lending Club 2 items
AML 1 items
Basel III 1 items
Board of Directors 1 items
CBDCs 1 items
Charles Steindel 1 items
China 1 items
DLT 1 items
Depository institutions 1 items
Economic Growth Regulatory Relief and Consumer Protection Act 1 items
Eugene White 1 items
GARP 1 items
ICOs 1 items
KYC 1 items
NLP 1 items
New Jersey 1 items
P2P 1 items
Sweden 1 items
Volcker rule 1 items
accounting 1 items
accounts 1 items
alternative data 1 items
asset quality 1 items
asset-based tokens 1 items
auditing 1 items
bitcoin 1 items
business models 1 items
central bank digital currencies 1 items
climate change 1 items
cloud computing 1 items
coins 1 items
community banks 1 items
compliance 1 items
concentration 1 items
consumer credit 1 items
consumer credit access 1 items
consumer protection 1 items
corporate culture 1 items
credit cards 1 items
credit invisibles 1 items
credit offers 1 items
credit performance 1 items
credit spreads 1 items
cryptoassets 1 items
cryptocurrency regulations 1 items
cultural capital 1 items
currencies 1 items
cybersecurity 1 items
data gaps 1 items
digital payments 1 items
digital transformation 1 items
digitalisation 1 items
discrimination 1 items
distributed ledger technology 1 items
e-CNY 1 items
economic consensus 1 items
economic finality 1 items
fdic 1 items
finance 1 items
financial innovations 1 items
financial systems 1 items
fintech regulations 1 items
fiscal sustainability 1 items
homeownership 1 items
income mobility 1 items
instant payments 1 items
insuretech 1 items
interpersonal connections 1 items
labor mobility 1 items
loan performance 1 items
minority credit access 1 items
mortgage approval 1 items
mutual banks 1 items
nonbanks 1 items
normalization 1 items
online lending 1 items
online mortgages 1 items
payment technology 1 items
payments 1 items
permissioned DLT 1 items
personal lending 1 items
personal loans 1 items
physical risk 1 items
privacy 1 items
proof-of-stake 1 items
proof-of-work 1 items
proportionality 1 items
regulatory environment 1 items
risk management 1 items
road trips 1 items
robo advisor 1 items
rotating savings and credit association (ROSCA) 1 items
screening 1 items
social capital 1 items
supervising financial institutions 1 items
suptech 1 items
technological change 1 items
technological innovations 1 items
technology 1 items
tokenisation 1 items
tokens 1 items
transportation 1 items
trust 1 items
underwriting 1 items
show more (135)
show less