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Life In The Cash Economy For “underbanked” Americans

What is the role played by check-cashing stores in poor communities? Not always what you'd think.
Life In The Cash Economy For “underbanked” Americans
Image from: Flickr

Via PBS News Hour:

Nearly 20% of low income US households are "underbanked," according to the FDIC. But is providing access to traditional, mainstream financial services the best solution for everyone? A professor does double duty as a New York City check casher and discovers that banks might not be the best choice for everyone.

TRANSCRIPT

KARLA MURTHY:  For most of us, going to the local bank to deposit a check is second nature, but for many poor people in the New York neighborhood of the South Bronx, it’s not.

More than half the residents there don’t have a bank account, so on a Friday af...

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