The Inadequacies of and Inequalities Created by our Financial System

Terri Friedline is an associate professor at the University of Michigan School of Social Work and author of the recently released book: Banking on a Revolution: Why Financial Technology Won’t Save a Broken System. The book examines how the existing financial system discriminates against the poor and people of color, and makes the case for a new, revolutionized financial system that centers the needs, experiences, and perspectives of those it has historically excluded, marginalized, and exploited. In this episode, Terri discusses how social workers can play a role in changing the financial system, the problems with traditional credit scores, how fintech, despite its claims, doesn’t automatically improve financial inclusion, and so much more.