The logic that is surprising the utilization of check cashers and pay day loans

The logic that is surprising the utilization of check cashers and pay day loans

Usually regarded as predatory, the check cashing industry is booming. Lisa Servon wondered why people that are lower-income had been struggling would cash checks as opposed to getting a banking account, therefore she took employment being a cashier to learn. Just exactly What she discovered — so it’s frequently cheaper — may be the topic of her brand new guide, “The Unbanking of America.” Economics correspondent Paul Solman reports.

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HARI SREENIVASAN:

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