Frequently regarded as predatory, the check cashing industry is booming. Lisa Servon wondered why lower-income people who had been struggling would cash checks in the place of getting a bank-account, therefore she took work as a cashier to discover. just What she discovered — so it’s usually cheaper — could be the topic of her book that is new,The Unbanking of America.“ Economics correspondent Paul Solman reports.

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HARI netcredit loans approved SREENIVASAN:

Next: you want some cash real fast?

Economics correspondent Paul Solman explores why, for many clients, the bet that is best may possibly not be the financial institution.

It is element of their regular series Making Sense of economic news.

JOE COLEMAN, President, RiteCheck:

And also this is East 138th Street, which in a variety of ways could be the Wall Street for the Bronx. You’ve gotten a complete lot of monetary providers over the road, bodegas. You’ve got tiny cash remitters.Continue reading→