Proximate Landscapes of Economic Inclusion in Southeastern Pennsylvania

Although mainstream banking institutions offer a suite of benefits to patrons, the proportion of U.S. households that are unbanked and underbanked remains persistently high. This study examines the spatial relationship between alternative financial service providers (AFSPs) and banks and neighborhood demographics in southeastern Pennsylvania. Results from spatial regression analyses reveal that AFSPs are disproportionately located in close proximity to neighborhoods with comparatively lower levels of educational attainment and higher rates of subprime mortgage lending, whereas banks are disproportionately located in close proximity to neighborhoods with comparatively higher levels of income and educational attainment and a lower percentage of minority residents.