NEW YORK—Starting on Wednesday, June 30, the Federal Reserve Bank of New York will release a three-part research series on its Liberty Street Economics blog exploring how access to financial services impacts economic inequality. The series will run on June 30 and July 1.
The new series builds on the Liberty Street Economics recurring research series on Economic Inequality, which highlights differences in economic outcomes and policy impacts by race, gender, age, geography, income, education, and other factors. These three blogs examine how a lack of access to a bank transaction account, overdraft fee caps, and exclusion from credit access can have potential adverse effects on financial health, educational opportunities and welfare, and aggravate economic inequality.
The latest series will feature the following posts:
Releasing on June 30
“Banking the Unbanked: The Past and Future of the Free Checking Account” examines historical changes in regulation, shifts in the ownership structure of retail financial services, and the decline of free / low-cost checking to understand the contributing factors around the lack of adequate access to financial services.
“Hold the Check: Overdrafts, Fee Caps, and Financial Inclusion” focuses on the unintended effects of overdraft fee caps on financial inclusion and suggests alternative paths to cheaper deposit accounts and increased inclusion.
Releasing on July 1
“Credit, Income and Inequality” explores how credit decisions can impact an applicant’s future income and income distribution.
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