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Detroit Area Study on Financial Services

University of Michigan

  • Program Education
  • Program Area Expanding Economic Opportunity
  • Grant Amount $8,675
  • Grant Period June 1, 2004–December 31, 2006
  • Location Ann Arbor, MI, United States
  • Geographic Focus Detroit

About this grant

This grant increase will provide additional support to the University of Michigan Law School for a study examining financial services usage patterns in Detroit. Specifically, the Detroit Area Study will survey and analyze: how and why low- and moderate-income people in the Detroit metropolitan area use certain types of financial services; the costs and benefits of such services; and how such persons might respond to new types of cost-effective financial products tailored to their needs and that experience suggests might plausibly be offered by banks, credit unions and/or thrifts. To carry out this research agenda, the law school is contracting with the university’s Survey Research Center, which is nationally renowned for its methodological and technical expertise. The resulting research will contribute to the academic literature, inform asset-building programs operating around the country, and provide guidance to federal and state policymakers about the financial services needs of low- and moderate-income households.