This report on anti-money laundering (AML) and combating the financing of terrorism (CFT) regulation addresses the consequences of these regulations on low-income people. The introduction of new or tightened AML/CFT regulations may have the unintended and undesirable consequence of reducing the...

The Community Reinvestment Act (CRA) requires banks to lend to low- and moderate-income (LMI) households in the areas where they take deposits. But it has become obsolete.We have serious reservations as to whether any regulatory agency could have the wisdom necessary to administer such a system...

This paper presents new empirical evidence documenting the financial services behavior of low- and moderate-income (LMI) households based on a household survey designed by the author and implemented with the Survey Research Center at the University of Michigan. The Detroit Area Household...

The book is devoted to a subject which deserves growing attention from policy makers, financial operators and academics. It is the issue of unbanking or underbanking in developed countries. With respect to this, the goal of the authors has been to devote more efforts to understanding the problem...