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In reply to the discussion: Class warfare? How the Poor are denied access to basic BANKING [View all]madamesilverspurs
(15,800 posts)12. Those payday lenders and rent-to-own stores ---
Back in the 1990s those enterprises were owned by the same banks that shut their doors to the poor. Those same banks redlined whole neighborhoods, thus creating "customers" for the payday lenders and rent-to-owns that popped up in or near to those neighborhoods. The rent-to-owns were largely unregulated, and customers often found themselves paying upwards of 3x retail and God help them if they missed a payment. A number of studies examined these practices of what came to be known as the "poverty industry". Pawn brokers came out the cleanest.
The one thing the poor can be assured of -- someone's greed is behind every denial of services.
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And not coincidentally at all, The USPS used to offer just this kind of service.
Egalitarian Thug
Feb 2013
#4
It's all moving to paperless online banking where you pay all your paperless bills.
L0oniX
Feb 2013
#11
Actually ...the move is on to charge you more if you want a paper bill via snail mail. n/t
L0oniX
Feb 2013
#55
Well if all fails cash your paycheck at WalMart for $3.00. I would also get money orders
southernyankeebelle
Feb 2013
#15
You are only charged an overdraft fee if you overdraft your account. That has nothing to do with
RB TexLa
Feb 2013
#25
No, it is easy to not screw up, it's simple addition and subtraction. Cash withdrawals may be
RB TexLa
Feb 2013
#32
Except for the banks which process transactions out of order to gain overdraft fines
Posteritatis
Feb 2013
#37
You know what...I'm not even all that desirous to PLAY the Money Game anyway
FirstLight
Feb 2013
#40
I think the Post Office should be allowed to open a no fee full reserve banking system...
hunter
Feb 2013
#45
agree with the banking, did find if you are a veteran chase opens accounts for free
MsFlorida
Feb 2013
#52