Passer au contenu principal
logo

2019 Conference

du 21 au 23 May 2019

Westin Arlington Gateway, Arlington, VA, USA

Proposal authors can use this tool to see where they have been placed in the agenda for a Symposium, an Oral Session, or a Featured Research Poster Session.

Scroll down to search by Author Name (Note: if the submitting author did not add all authors to the ProposalSpace form, only First & Corresponding Author will be searchable), by Date/Time, or by Keywords.

Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session YES. Contact the ACCI Office to report a conflict. Call (727) 940-2658 x 2002 if you have questions. Please be sure to reference the session title(s), date(s) and time(s) if you contact us.


C2a Alternatives to Alternative Financial Services: a Case Study of “Community-Based Loan Programs”

mercredi 22 mai 2019 à 14:00–15:30 EDT
F. Scott Fitzgerald B
Key Words

Payday loans, Alternative Financial Services, Microloans, Financial Education, Unbanked, Underbanked, Auto Title Loan, Fringe bank products, predatory lending,
financial inclusion

Short Description

This exploratory research uses a case study approach to highlight community-based alternatives to financial services (AFS). Predatory loans (esp. payday loans) can entrap clients into a cycle of debt with their high-interest rates. Current efforts to deal with alternative financial services (esp. payday loans) rest at the federal and state level. Amid regulation prohibiting payday loans, these “community-based loan programs” are providing grassroots solutions. Examples include the Kansas Loan Pool Project (KLPP), Common Wealth Charlotte (CWC), and Common Wealth Athens (CWA). The authors coin the term “community-based loan programs” to describe these three paradigms. They emanate from non-profit organizations (NPOs) recognizing the predatory debt trap. The organizations provide low-interest, small-dollar loans that empower clients to refinance high-interest debt. Relying on the Social Capital Theory, preliminary findings discuss the programs’ inputs, outputs, and outcomes via a logic model. Preliminary findings show similarities (e.g., affordable interest rates, mandatory financial education) and differences in the program. Challenges include securing funding and program evaluation efforts. This paper concludes with implications for consumer affairs professionals, welcoming dialogue for future, sustainable partnership between NPOs and banks.

First & Corresponding Author

Jessica Parks, University of Georgia
Authors in the order to be printed

Jessica Parks, Mary Caplan

Additional Authors

Mary Caplan, University of Georgia
Chargement en cours …