Stefan Wermuth / Reuters One of the great ironies in modern America is that the less money you have, the more you pay to use it. The country’s “unbanked” must pay high fees to fringe banks to turn their paychecks into cash, pay their monthly bills, or send money to a spouse or a child.
If The U.s. Government Treated Poor People As Well As It Treats Banks
Mehrsa Baradaran, The Atlantic
Thu, 10/15/2015 - 8:28am
Topics: stefan wermuth reuters one related story it is expensive be poor for stories fleming&rsquo george w bush america&rsquo ken lewis the wall street ldquo;an american wild west the native american u.s.&rsquo u.s postal service u.s plus americans&rsquo tanya fleming mehrsa baradaran other half banks exclusion exploitation threat democracy america american americans united states thelma fleming thomas fleming in steven federal reserve ceo barack obama bank u.s government treated people money loans credit market pay payday public lenders lend lender support services percent crisis survive modern large problem borrow largest can’t population private system short-term rules feet rates good crunch eventually obvious truth deregulation profits loan costs average left power answer deal price order scene emergency history community focus failed presidents cheap local supported deposits accounts months paycheck needed paid expenses paychecks prices time fact economies unexpected meet cover economic filled what’s scale larger void unity great served miracle nation sector started clear high couldn’t withstand temporary rely liquidity sell cost terms laws happened successful basic person central true bills monthly
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