Medicine and Health Sciences Commons^™

Alternative Financial Services As A Social Determinant Of Health In U.S. Metropolitan Statistical Areas, Courtney Hundley, Richard W. Wilson, John Chenault

Faculty Scholarship

Alternative financial services (AFS) such as payday lenders, pawn brokers, tax refund loans, and check cashers are more prevalent in minority and lower income neighborhoods. These are neighborhoods also found to have disparities in health, compared to more affluent neighborhoods and communities. The focus of this paper is to determine if any relationship exists between use of AFS and health disparities. Using data from a survey performed by the Federal Deposit Insurance Corporation (FDIC), we compared four banking variables to several measures of health for 85 metropolitan statistical areas (MSA) across the nation. The four banking variables all related to …