James Brown, Kingland MBA professor and chair of finance in at Ivy College of Business, was featured in an article published by Iowa State University News Service.
AMES, Iowa – Growing up in a community with or without banks or financial institutions has a long-term effect on how you build and manage credit, according to a new Iowa State University study.
Early exposure to local banking increases financial literacy and trust, said James Brown, Kingland MBA professor and chair of finance in ISU’s Ivy College of Business. The research shows individuals who grow up in what are essentially “financial deserts” are slow to apply for credit and as adults have lower credit scores and more delinquent accounts. The research is forthcoming in the Journal of Financial Economics.