The Importance of Check-Cashing Businesses to the Unbanked: Racial/Ethnic Differences

By Sherrie L. W. Rhine, William H. Greene, Maude Toussaint-Comeau. Review of Economics and Statistics, 2006

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Handbook of Consumer Finance Research (2008, background): “Rhine et al. ( 2006 ) hypothesize that a number of unmeasured preference factors such as cost perceptions, liquidity constraints, and even information asymmetries might be in play on Hispanic Americans’ choice to patronize check cashing place instead of mainstream banking.”
The foundations of financial inclusion : understanding ownership and use of formal accounts (2012, unknown): “Moreover, an individual’s decision to remain unbanked can have long-lasting effects, since having a bank account can facilitate asset building and wealth creation that may allow for consumption smoothing at retirement or when faced with shocks (Rhine et al., 2006).”