The Unfair Opacity Of Credit Cards Peddled To The Poor

Matt Rourke / AP When a company takes on the task of providing financial services to people overlooked by large banks, that would seem to be a good thing: Such customers need bank accounts, debit cards, and credit just like everyone else. In 2013, nearly 10 million American households didn’t have any interaction with a bank, and nearly 25 million households had bank accounts but used alternative financing options (such as prepaid debit cards, alternative credit cards, or payday loans) to make ends meet.

 

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