All sessions will take place in Central Daylight Time!

  • Poster presentations are available to view from May 18 through May 23 via ACCI’s (unlisted) YouTube Channel Poster Playlist sent out with the Zoom meeting room links to all attendees.
  • Poster are listed in this schedule on the last day at 6 PM so they appear at the end. Please scroll to the end to find the poster numbers, titles, descriptions, and presenters.

Be sure to live Tweet during the event! #accivirtual2020  and visit our Facebook page for photos @americancouncilonconsumerinterests.
Back To Schedule
Thursday, May 21 • 6:00pm - 6:00pm
113 What Are the Differences Among and Between U.S. Adults Who Use Payday Loans & Check-Cashing Services and Those Who Do Not?

Sign up or log in to save this to your schedule, view media, leave feedback and see who's attending!

Feedback form is now closed.
Approximately 28% of U.S. adults use alternative financial services (AFS) providers to obtain check-cashing services, seek payday advance loans, or both (non-bank financial service users, NBFS). Prior research focused on three categories of AFS users: individuals who utilize payday loans; individuals who utilize check-cashing services; and individuals who utilize both. We described the key demographics of these groups and illustrated how these three groups differ from each other and from the general population. This present work includes an additional level of categorization--willingness to enroll one's accounts in automatic financial transaction data collection (e.g. Mint). Using the financial transaction data in conjunction with our data on the use of AFS, we regrouped our categories of AFS into four new groups. We then analyze the differences among the newly defined four groups of AFS users and include socio-demographic characteristics to offer greater explanatory power. We consider differences in money management between AFS and non-AFS users.

Author(s): Meimeizi Zhu, Angela Fontes, Justine Bulgar-Medina


Meimeizi Zhu

Data Scientist, NORC at University of Chicago

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube