Title

Check-Cashing Outlets In A Changing Financial System

Document Type

Paper

Publication Date

2-1-2002

Published In

Check-Cashing Outlets In A Changing Financial System

Abstract

This paper discusses changes in the financial sector that threaten traditional check-cashing outlets (CCOs). Specifically, the paper focuses on four developments that may radically alter the check-cashing industry over the coming decade: the growing use of electronic payments, the deployment of automated check-cashing machines, the rise of payday lending, and the development of "bank/CCO hybrids."

Keywords

checks

Published By

Federal Reserve Bank Of Philadelphia