Associate Professor Terri Friedline discusses the drop in demand for small-dollar loans with Morning Consult. Without additional government relief, she expects “things to get a lot worse as people are forced to take on debt, including higher-cost, small-dollar loans, to survive the pandemic.”
Associate Professor Terri Friedline has been selected for the U-M 2020 cohort of the Public Engagement Fellowship. Mentor fellows are faculty with more extensive experience in public engagement and will work closely with Fellows to provide guidance, connections and mentorship based on their own expertise and networks. Although planning for the Public Engagement Fellowship started before COVID-19, the current situation highlights how important programs like these are in preparing scholars for engagement - both in moments of crisis and over the long-term.
Associate Professor Terri Friedline discusses financial system reform and consumer protections to ensure that people and communities have access to safe and affordable financial products and services during the Coronavirus Pandemic.
Associate Professor Terri Friedline’s research, “Mapping Financial Opportunity” can be used to inform the Automatic BOOST to Communities Act drafted by Rashida Tlaib, U.S. Representative for Michigan's 13th congressional district. In response to the coronavirus crisis, the proposed legislation would immediately provide a U.S. debit card preloaded with $2,000 to every person in America, which could be transitioned into a universal federal or postal banking account. Each card would be recharged with $1,000 monthly until one year after the end of the coronavirus crisis. Friedline's research focuses on universal bank account access and she maps post office locations to inform the potential for postal banking.
Terri Friedline’s research on racialized costs of banking was highlighted in a recent CBS News story, “Blacks and Latinos say they pay higher bank fees — research suggests they're right.” Friedline’s research found that the average cost of maintaining a checking account was $262.09 higher for Latinos, $190.09 higher for blacks and $25.53 higher for Asian-Americans when compared to white customers.
Associate Professor Terri Friedline was appointed by Consumer Financial Protection Bureau Director Kathleen L. Kraninger to the Academic Research Council. Friedline’s important research on fair banking and financial practices will impact the Consumer Financial Protection Bureau and the nation.
“The Bureau is able to protect consumers in the financial marketplace better when it receives input from a wide range of experts and stakeholders,” said Kraninger. “I am confident these groups will be able to hit the ground running in their efforts to provide meaningful feedback on Bureau policy and regulations.”
"I am honored to receive this appointment and to serve and protect consumers by advising the Bureau's research agenda. I look forward to working alongside the Director and fellow council members," Friedline said.
Associate Professor Terri Friedline wrote an op-ed "Want a Green New Deal? Then Challenge Global Capitalism" for The American Prospect. Friedline supports addressing inequities and rising global temperatures with the Green New Deal which challenges global capitalist activities that amplify racial and gender disparities in how people experience the effects of climate change.
Associate Professor Terri Friedline's recent study was featured in the Boston Globe article, “It can cost more for a checking account if you’re black or Latino, study says.” ‘‘If we care about racially disparate patterns in costs and fees and want to eliminate those in the financial system, our oversight has to include small and community banks where these practices are prevalent,’’ said Terri Friedline, a professor of social work at the University of Michigan who co-authored the report with Jacob William Faber, a New York University sociologist
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