Team Pocket change created a survey-based research tool that matches consumers looking for small-dollar loans with options that meet their needs and preferences while providing financial researchers and regulators with data about consumer needs. 

Our team is comprised of five interdisciplinary students from James Madison University in Virginia. To complete this project, we are working in collaboration with a group from the Financial Security Program at The Aspen Institute. 

In 2015, a collective 27 percent of American households were unbanked or underbanked. This means that these households relied completely or partially on alternative financial services outside traditional banking. Thus, many of these consumers rely on small-dollar loans. However, with so many available lending options, it can be hard for consumers to find the best loans for their individual needs. Further, it can be difficult for policy-makers and regulators to navigate the sea of loan options in order to create the best regulation for the consumers they are trying to help. 

The timeline below highlights some of the most important interviews and major turning points of our project. You can move through the timeline by clicking the left and right arrows. You can also jump to specific points in time by clicking the events inside the grey bar at the bottom. For a more in-depth look at these important moments, please visit the “Our Project” page, accessible at the bottom of the page. 

As you navigate through our website, you will find team bios in the Meet the Team page, an overview of project processes and reflections on the Our Project page, and weekly progress reports in the Weekly Updates page.