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Check-cashing outlets in a changing financial system

John P. Caskey

No 02-4, Working Papers from Federal Reserve Bank of Philadelphia

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 (search for similar items in EconPapers)
Date: 2002
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Handle: RePEc:fip:fedpwp:02-4