The Financial Divide: An Unequal Playing Field

Contributing Organization(s): California Reinvestment Coalition


Author(s)/Creator(s): Alan Fisher

Publishing Date: 2005-03-01

Issue Areas: Economic Development; Housing and Homelessness

Ownership/Rights Info: Please consult the copyright holder before using or repurposing this information.

Driving through California towns and cities, the economic division between lower-income and wealthier neighborhoods is reflected in the starkly separate locations of check cashers and payday lenders in lower-income neighborhoods on the one hand and mainstream banks and savings and loans in wealthier neighborhoods on the other. This two-tier consumer finance system has a dramatic negative impact on California's diverse communities. In contrast to outward appearances, the two seemingly-separate financial sectors are, in fact, two faces of a seamless financial web.

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