IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.
Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.
Scroll down to search by the Submitter or Author Name, by Date/Time, or by Keywords.
Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.
D1a A Loan at Any Cost: Obtaining High Interest Loans and the Roles of Financial Literacy, Financial Hardship; and the Dilemma of Minority Racial/Ethnic Groups
Short Description
This paper examines whether experiencing financial hardship was associated with obtaining high interest loans using the 2021 wave of the FINRA National Financial Capability Study. The results reveal that while financial literacy moderated the association between financial hardship and obtaining predatory loans, the minority racial ethnic groups were more likely to obtaining such loans. Additionally, experiencing financial hardship was negatively associated with financial satisfaction in the overall sample. Implications for policy makers, scholars, and researchers of financial wellbeing and financial capability are discussed.
Type of presentation
Accepted Oral Presentation