Banking on a Revolution

Why Financial Technology Won't Save a Broken System
Erscheinungsjahr 2020
ISBN: 978-0-19-094413-1
Verlag: Oxford University Press, USA

Buch, Englisch, 312 Seiten, Format (B × H): 155 mm x 239 mm, Gewicht: 590 g

Can grassroots social movements impact the financial system?

Technological advancements are poised to completely transform the financial system, and soon it will be unrecognizable. Banks are increasingly using financial technologies ("fintech") to deliver products and services and maximize their profits. Technology enthusiasts and consumer advocates laude the field for its potential to expand access to banking and finance. However, if history is any indication, fintech stands to reinforce digital forms of redlining and enable banks' continued racialized
exploitation of Black and Brown communities.

Banking on a Revolution takes the perspective that the financial system needs a revolution-not the impending revolution driven by technology. Studying the various ways the financial system bolsters whites by exploiting and marginalizing Black and Brown communities, Terri Friedline challenges the optimistic belief that fintech can expand access to banking and finance. Friedline applies the lens of financialized racial neoliberal capitalism to demonstrate the financial system's inherent
racism, and explores examples from student loan debt, corporate landlords, community benefits agreements, and banking and payday lending. Banking on a Revolution is deeply rooted in theory and research, and it presents new interpretations of the climate crisis, student loan debt, and community benefits
agreements and their relationships to the financial system. The book makes a compelling case for a revolutionized financial system that centers the needs, experiences, and perspectives of those it has historically excluded, marginalized, and exploited.

Autoren/Hrsg.

Friedline, Terri

Fachgebiete

• Sozialwissenschaften Soziologie | Soziale Arbeit Soziale Arbeit/Sozialpädagogik
• Wirtschaftswissenschaften Volkswirtschaftslehre Finanzkrisen, Wirtschaftskrisen
• Sozialwissenschaften Soziologie | Soziale Arbeit Soziale Gruppen/Soziale Themen Soziale Mobilität
• Sozialwissenschaften Soziologie | Soziale Arbeit Spezielle Soziologie Soziale Ungleichheit, Armut, Rassismus

Über Autor(innen)

Terri Friedline, PhD, is Associate Professor of Social Work, Faculty Director at the Center on Assets, Education, and Inclusion, and Faculty Affiliate at Poverty Solutions at the University of Michigan. She is also a Research Fellow at New America and an appointed member of the Consumer Financial Protection Bureau's Academic Research Council (ARC). Friedline conducts research on financial system reforms and consumer protections to ensure that
households and communities have access to safe and affordable financial products and services. Her research has examined affordability, racial disparities, predatory policies and practices, and the rise in financial technology.