Financial Inclusion and Ethnic and Racial Disparities in Financial Security at Retirement: Evidence from a Mixed-methods Study of Bank Branching Deregulation

Published: 2025
Project ID: UM25-07

Abstract

Racial and ethnic disparities in wealth accumulation and retirement security have been well documented. Less is known about how inequities in financial inclusion contribute to disparities in retirement outcomes. In this project, we propose a mixed-methods, community-engaged study. The quantitative portion will causally estimate how greater financial inclusion during working ages affects retirement economic security across racial and ethnic groups. The qualitative approach will elicit a range of current retirees’ individual experiences about specific barriers or facilitators to banking services over the life course. Combined, these findings will estimate the aggregate impacts of increasing financial inclusion on retirement security and racial/ethnic disparities therein, as well as the specific components of financial services associated with greater retirement security, speaking to how evolving auto enrollment and other expanded financial inclusion policies will affect retirement security.

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