Scamming the poor: The modern fringe economy

Social Policy Journal

Volumn 3, Issue 1, 2004, Pages 39-54

  Karger, Howard Jacob ^a  

^a UNIVERSITY OF HOUSTON   (United States)

Author keywords

Exploitation; Fringe banking; Fringe economy; Poverty; Predatory lending; Social policy

Indexed keywords

EID: 34248609329     PISSN: 15332942     EISSN: 15332950     Source Type: Journal    
DOI: 10.1300/J185v03n01_04     Document Type: Article

References (32)

1. AARP (2002). Payday loans don’t pay. Retrieved June 6, 2002 from the World Wide Web: http://www.aarp.org/confacts/money/paydayloans.html
2. ACE Cash Express Inc. (2000). Annual Report on Form 10-K for the fiscal year ended June 30, 2000. Filed with the Securities and Exchange Commission.
3. ACE Cash Express, Inc. (2001). Annual report on form 10-K for the fiscal year ended June 30, 2001. Filed with the Securities and Exchange Commission.
4. ACE Cash Express (2002). ACE Store Services. Retrieved June 8, 2002 from the World Wide Web: .
5. American Financial Services Association (2002). Pawnshops struggle. Retrieved June 6, 2002 from the World Wide Web: .
6. Berube, A., Kim, A., Forman, B. & Burns, M. (2002, May 21). How tax preparation and refund loan fees erode the benefits of the EITC. Policy Report. Washington, D.C.: The Brookings Institution.
7. Booz-Allen & Hamilton Shugoll Research (1997, September 15). Mandatory EFT Demographic Study: Areport prepared for the U.S. Department of Treasury. Washington, D.C.: U.S. Department of the Treasury.
8. Car Title Loans of America, Inc. (2002). Laurel, MS. Retrieved June 8, 2002 from the World Wide Web: .
9. Caskey, J.P. (1994). Fringe banking. New York: Russell Sage Foundation.
10. Caskey, J.P. (1997). Lower income American, higher cost financial services. Madison, WI: Filene Research Institute.
11. Caskey, J.P. (2002, January). Bringing unbanked households into the banking system. Capitol Xchange, The Brookings Institution. Retrieved June 9, 2002 from the World Wide Web: .
12. CFA (2002, January 31). Tax loans skim hundreds of millions from working poor. Washington, DC: Consumer Federation of America.
13. CFA (2002). Predatory lending. Consumer Federation of America. Retrieved June 4, 2000 from the World Wide Web: .
14. Consumer Reports (2002). A new twist on bank fees. Frontlines. Consumer Reports, (2), February, 35.
15. DiStefano, J.N. (2002). Bank to refund fees in ‘predatory-lending’ cases. Philadelphia Inquirer, April 26, A6.
16. Dollar Financial Group, Inc. (2000). Annual Report on Form 10-K for the fiscal year ended June 30, 2000. Filed with the Securities and Exchange Commission.
17. Dunham, C.R. (2001). The Role of banks and nonbanks in serving low-and moderate- income communities. In J.L. Blanton, S.L. Rhine, & A. Williams (Eds.), Changing financial markets and community development: A Federal Reserve System research conference (pp. 31-58). Richmond, VA: Federal Reserve Bank of Richmond.
18. Editors, Nolo Press (1995). The ‘lectric’ law library. Retrieved June 6, 2002 from the World Wide Web: .
19. Edmunds (2002). Edmund’s used cars & trucks prices: 1992-2001, American & import. Spring/Summer. Chicago, IL: Edmunds.
20. Fannie Mae Foundation (2001). Low-income and minority families rely increasingly on high-cost financial services. Retrieved June 6, 2002 from the World Wide Web:.
21. Federal Reserve Board (2001). Capital Connections. The unbanked-who are they? (3)2. Retrieved June 3, 2002 from the WorldWideWeb: .
22. Fox, J.A. & Mierzwinski, E. (2001, November). Rent-a-bank payday lending: How banks help payday lenders evade state consumer protections. Consumer Federation of America and the US Public Interest Research Group. Washington, DC: Consumer Federation of America.
23. Hudson, M. (Ed.) (1996). Merchants of misery. Monroe, ME: Common Courage Press.
24. Karger, H.J. & Stoesz, D. (2002). American social welfare policy: A pluralist approach (4th Ed.). Boston: Allyn & Bacon.
25. Kennickell, A. et al. (2000). Recent changes in U.S. family finances: Results from the Survey of Consumer Finances. Federal Reserve Bulletin, (86)1, 1-29.
26. Kim, A. (2001). The unbanked and the alternative financial sector. Discussion comments to the Changing Financial Markets and Community Development Conference. Federal Reserve Bank of Chicago, transcript. Retrieved June 8, 2002 from the World Wide Web: .
27. Manning, R.D. (2000). Credit card nation. New York: Basic Books.
28. Mortgage Bankers Association of America (2001). FTC charges one of nation’s largest subprime lenders with abusive lending practices: Associates first capital corporation and its successors Citigroup Inc. and Citifinancial credit company named in complaint. Retrieved April 10, 2003 from the World Wide Web: .
29. Mukherjee, S. (1997). Consumer group pushes for regulation of check cashing industry. Houston Business Journal, August 29, 25.
30. NationsCredit (2000). Bank of America. Retrieved June 10, 2002 from the World Wide Web: http://www.nationscredit.com
31. Quik Payday (2002). APR disclosure. Retrieved June 6, 2002 from the World Wide Web: http://www.quikpayday.com/apr-disclosure.html
32. Rhine, S.L., Toussaint-Comeau, M., Hogarth, J.M.,&Greene, W.H. (2001, April 5-6). The role of alternative financial service providers in serving LMI neighborhoods. Changing Financial Markets and Community Development Conference. Proceedings of the community affairs research conference, Federal Reserve Bank of Chicago. Washington, DC.