Banking desert

Banking deserts are areas with inadequate banking services. They are usually in rural regions as they are less populated, thus there are less profit opportunities for large banking institutions. Low-income residents and the elderly are particularly vulnerable to the problems associated with banking deserts. If basic financial services are unavailable, residents become "vulnerable to predatory lenders and pricey check cashers". In the US, banking deserts are more often found in communities of color than they are elsewhere.