The Unbanked Among U.S. Hispanic/Latinx Households: A Literature Review

This scoping review examined what is known in the literature about Hispanic/Latinx unbanked households. It used Arksey and O'Malley's (2005) five-step process to analyze 12 peer-reviewed research articles from preselected databases and journals. Using Braun and Clarke's (2006) Reflexi...

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Bibliographic Details
Published inFinancial counseling and planning Vol. 35; no. 1; pp. 33 - 40
Main Author Parks, Jessica M.
Format Journal Article
LanguageEnglish
Published New York, NY Springer Publishing Company 01.04.2024
Association for Financial Counseling and Planning Education
Subjects
Bank accounts
Banking
Behavioral Sciences
Counseling
Educational Attainment
Ethnicity
Fees & charges
General Counseling
Hispanic Americans
Households
Literature reviews
Low Income Groups
Marriage and Family Counselling
Money orders
Pawn shops
Payday loans
Postal & delivery services
Race
Refund anticipation loans
Remittances
Savings accounts
Tax refunds
United States > US
unbanked
Latinx
alternative financial services
Hispanic
scoping study
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Summary:This scoping review examined what is known in the literature about Hispanic/Latinx unbanked households. It used Arksey and O'Malley's (2005) five-step process to analyze 12 peer-reviewed research articles from preselected databases and journals. Using Braun and Clarke's (2006) Reflexive Thematic Analysis, the author constructed three themes to synthesize the literature. The first theme is about data sets used that include both nationally representative data sets and smaller data sets collected locally. The second theme showed that "unbanked" has not been consistently defined across the literature varying according to the account type, institution type, and account owner. The third theme revealed the reasons why Hispanic/Latinx households might be unbanked. The results have implications for future research and financial practitioners who work with Hispanic/Latinx clientele.
ISSN:1052-3073
1947-7910
DOI:10.1891/JFCP-2023-0024