The geography of fringe banking

Christopher S. Fowler, Jane K. Cover, Rachel Garshick Kleit

Research output: Contribution to journalArticlepeer-review

34 Scopus citations


U.S. financial services are bifurcated into a traditional banking sector that serves wealthier individuals and a less regulated alternative financial services sector (payday lenders, check cashers, etc.) catering to lower income individuals. What determines the spatial distribution of fringe banks? First, at the county level, fringe banks do not fill a spatial void in traditional services. Second, whether fringe providers disproportionately locate in counties with more minorities depends on the service and the minority population. Finally, pawnshop prevalence is shaped by restrictions on interest and fees, but the location of payday lenders and check cashers is not sensitive to such regulation.

Original languageEnglish (US)
Pages (from-to)688-710
Number of pages23
JournalJournal of Regional Science
Issue number4
StatePublished - Sep 2014

All Science Journal Classification (ASJC) codes

  • Development
  • Environmental Science (miscellaneous)


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