financial exclusion Concepts

The Social Life of Money

by Nigel Dodd · 14 May 2014 · 700pp · 201,953 words

now several thousand alternative monetary systems in operation worldwide, using a range of different media and accounting schemes designed to foster local economic growth, resist financial exclusion, and even challenge what many believe to be the persistent and damaging hegemony of states and banks in the way that money is produced and

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a counterweight to it, that is to say, a set of monetary arrangements that can make up for the shortcomings of mainstream money, such as financial exclusion (Dodd 2005b). Likewise, socialism appeals to Simmel not tout court, but rather as a corrective, i.e., a tendency that resists the equally complete realization

Empire of Things: How We Became a World of Consumers, From the Fifteenth Century to the Twenty-First

by Frank Trentmann · 1 Dec 2015 · 1,213pp · 376,284 words

on Luigi Guiso, Michael Haliassos & Tullio Japelli, eds., Household Portfolios (Cambridge, MA, 2002); Elaine Kempson & Claire Whyley, Kept out or Opted out?: Understanding and Combating Financial Exclusion (Bristol, 1999). In the United States, the number of households holding mutuals and pension funds as well as direct stocks shot up from 32% to

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. Haas, ‘Over-indebtedness in Germany’, International Labour Office, Working Paper no. 44 (2006); Elaine Kempson & Claire Whyley, Kept Out or Opted Out?: Understanding and Combating Financial Exclusion (Bristol, 1999); Nicola Jentzsch & Amparo San José Riestra, ‘Consumer Credit Markets in the United States and Europe’, in: Bertola, Disney & Grant, eds., The Economics of

Money, Real Quick: The Story of M-PESA

by Tonny K. Omwansa, Nicholas P. Sullivan and The Guardian · 28 Feb 2012 · 140pp · 91,067 words

to the financial system, which is the Central Bank’s main purview. Taken as a bookend to the 2006 FinAccess survey, which pointed to gross financial exclusion, the Bank felt these recent results showed that M-PESA was moving the needle in a positive direction. Per its initial letter of “no objection

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and the Central Bank of Kenya are committed to promoting safe and efficient innovations that enhance access to financial services, thereby addressing the challenge of financial exclusion due to infrastructural constraints.” Mr. Kinyua authoritatively stated that, according to the audit report, there was no evidence to support the claims that the service

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-page ******ebook converter DEMO Watermarks******* advertisement in The Daily Nation. Tellingly, one of the Bank’s key public comments noted the 2006 FinAccess report on financial exclusion, pointing out that while few had access to banks, most had access to phones. The Central Bank’s statement began with an endorsement of mobile

Robot Rules: Regulating Artificial Intelligence

by Jacob Turner · 29 Oct 2018 · 688pp · 147,571 words

of tests from firms with innovative business models that look to address the needs of more vulnerable consumers who may be particularly at risk of financial exclusion. The House of Lords Select Committee on Financial Inclusion published a report in March 2017 which cited the FCA sandbox as a positive way of

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encouraging fintech solutions to aspects of financial exclusion.51 Promoting the inclusion of the whole of society is essential to creating a sustainable environment for AI regulation and growth in the longer term

Rebooting India: Realizing a Billion Aspirations

by Nandan Nilekani · 4 Feb 2016 · 332pp · 100,601 words

and adhoc financial services of questionable legality. Such basic activities as sending money to relatives become fraught with difficulties and costs. On a smaller scale, financial exclusion also sharply limits the ability of people to save, invest and improve their circumstances. Looking at the larger picture, this results in significant damage to

The Unbanking of America: How the New Middle Class Survives

by Lisa Servon · 10 Jan 2017 · 279pp · 76,796 words

bags my lunch. She smiles and then turns to the next customer. The South Bronx is Exhibit A of what researchers call a “geography of financial exclusion,” where people tend to use mainstream financial services like banks less than people do in more affluent places. Its population of 500,000, including many

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reasons. But, as usual, it’s the people living on the margins who suffer the most. For most of our nation’s history, banks practiced “financial exclusion,” and policy backed them up. The Home Owners’ Loan Corporation (HOLC), part of FDR’s New Deal, rated neighborhoods on a scale of A to

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’s Mission District. The brightly painted space buzzes with activity. José Quiñones started MAF in 2008, convinced that he had a better way to combat financial exclusion compared to the strategies he saw being promoted. Where policymakers saw an unbanked community, Quiñones saw people, all over San Francisco’s Mission District, saving

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step toward improving the system is to change how we talk about it. Framing the problem as “banked versus unbanked” has helped spotlight problems of financial exclusion, but it has also placed a value judgment on some people’s financial decisions without understanding their situations, implying that the un- and underbanked are

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, 44 effects of, xiv, 38–39, 50–51, 53, 55–57 financial-services sector and, 34–36 millennials and, 110–11 wealth loss in, 56 financial exclusion, 2–3, 41–45, 151–52, 168 financial health, 167–69, 175–77 Financial Industry Regulation Authority, 66 financial planning, 48 financial security. See also

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, 146 of millennials, 111–12, 118 Truth in Lending Act (TILA, 1968), 200n43, 209n68 U un- and underbanked, xvi–xvii, 44, 147, 165. See also financial exclusion underground economy. See informal savings and loans unemployment, 50, 64, 73–74, 107–8 Uniform Small Loan Laws, 65, 224n163 universal basic income, 168 universal

The Pay Off: How Changing the Way We Pay Changes Everything

by Gottfried Leibbrandt and Natasha de Teran · 14 Jul 2021 · 326pp · 91,532 words

services – the payments system. What is ironic is that the same thing that is boosting financial inclusion in developing nations is heightening the risk of financial exclusion in advanced ones: technology and electronic payments. The same move away from cash that is helping the most vulnerable in, say, Lusaka, may be harming

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US policy on banks accepting foreign IDs, see: http://financialservices.house.gov/media/pdf/062603sb.pdf For Dutch parliament discussion on financial exclusion, see: www.parlementairemonitor.n1/9353000/l/j9vvij5epmj1ey0/vk5dmnhjv5ui For financial exclusion of embassies, see: www.transparency.org/cpi2018; https://foreignpolicy.com/2010/11/19/37-embassies-in-washington-face-banking-crisis

Getting By: Estates, Class and Culture in Austerity Britain

by Lisa McKenzie · 14 Jan 2015 · 212pp · 80,393 words

small reduction in child poverty rates, Nottingham’s position relative to other authorities worsened. The experiences of parents are shaped by the local employment market, financial exclusion, economic recession, national changes to welfare benefits, adult literacy levels, the availability of good quality affordable childcare, by fuel poverty, housing and environmental issues, parental

The Currency Cold War: Cash and Cryptography, Hash Rates and Hegemony

by David G. W. Birch · 14 Apr 2020 · 247pp · 60,543 words

the equivalent of $1,000 each), may not seem like a huge deal, but it really is. It would make a significant inroad into the financial exclusion issue that I highlighted in chapter 4 as a key area in which digital currencies could be beneficial. And if the PBoC does indeed implement

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AI and machine learning, it may work better for the purposes of law enforcement (and society as a whole) to stop using KYC to create financial exclusion. Instead (bearing in mind my suggestions about KYZ!), we should aim for financial inclusion and use modern technology to track and monitor transactions in order

The Curse of Cash

by Kenneth S Rogoff · 29 Aug 2016 · 361pp · 97,787 words

by the government, though it can also be imposed on banks that will eventually pass the costs on to paying customers. Under the current system, financial exclusion imposes high costs on the poor (e.g., high fees for cashing checks or wiring money), and a strong case can be made for providing

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being subject to fraud are much higher outside the regulated financial sector. The poor may benefit from being able to use paper currency, but overall, financial exclusion implies large costs for basic services. In sum, the status quo is extremely regressive. A long-run solution is to provide government-subsidized access to

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financial services for the poor, giving them equal access to electronic currency and, at the same time, helping reduce some of the costs associated with financial exclusion. In principle, providing access can be done through a regulated banking sector, but there could also be a government provider of basic services. A basic

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plastic currency, 11, 204, 241n61 poor and unbanked individuals: cell phones/smartphones for, 3, 48, 93–94; drone money targeted at low-income households, 156; financial exclusion under the current system, costs of, 93, 98–99; proposal for currency phaseout, 93, 98–100 Porter, Richard, 43–44 Portugal, 46–47, 65 Posen