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Report
Unequal Access to Credit
The Hidden Impact of Credit Constraints
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Recommendation
Access to credit lets people take advantage of opportunities and helps ensure their financial security. But many individuals face barriers to obtaining credit, and that has a knock-on effect on their communities’ economic stability. Analysts at the Federal Reserve Bank of New York have designed a “Credit Insecurity Index” to provide a more accurate picture of a neighborhood’s financial well-being. Financial professionals and community leaders will find the index a useful tool in assessing an area’s financial health.
Take-Aways
About the Authors
Kausar Hamdani, Claire Kramer Mills, Edison Reyes and Jessica Battisto are analysts at the Federal Reserve Bank of New York.
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