Predatory lenders, such as auto title lenders, pawn shops, etc. are disproportionately concentrated in communities of color and low-income communities. According to the Federal Reserve, fewer than 40% of black and Latin households would be able to come up with $400 in an emergency situation, compared with 60% of white households. Similarly, black and Latin households are less likely to have a bank account. As a result, in 2015 13% of black Americans and 10% of Latin Americans used predatory banking products (such as car title loans, payday loans, or pawn shops) compared to 6% of white Americans.