The unbanking of America : how the new middle class survives

The Resource The unbanking of America : how the new middle class survives

Label

The unbanking of America : how the new middle class survives

Title remainder

how the new middle class survives

Statement of responsibility

Lisa Servon

Language

eng

Summary

Discusses the problems with American banking and investigates such informal banking alternatives as check-cashing businesses, payday lenders, and lending clubs
An urgent, absorbing exposé--why Americans are fleeing our broken banking system in growing numbers, and how alternatives are rushing in to do what banks once did. What do an undocumented immigrant in the South Bronx, a high-net-worth entrepreneur, and a twenty-something graduate student have in common? All three are victims of our dysfunctional mainstream banking and credit system. Today nearly half of all Americans live from paycheck to paycheck, and income volatility has doubled over the past thirty years. Banks, with their high monthly fees and overdraft charges, are gouging their low- and middle-income customers while serving only the wealthiest Americans. Lisa Servon delivers a stunning indictment of America's banks, together with eye-opening dispatches from inside a range of banking alternatives that have sprung up to fill the void. She works as a teller at RiteCheck, a check-cashing business in the South Bronx, and as a payday lender in Oakland. She looks closely at the workings of a tanda, an informal lending club. And she delivers engaging, hopeful portraits of the entrepreneurs reacting to the unbanking of America by designing systems to creatively serve many of us

Cataloging source

YDXCP

Dewey number

332.10973

Index

index present

LC call number

HG2461

LC item number

.S47 2017

Literary form

non fiction

Nature of contents

bibliography

Context

Context of The unbanking of America : how the new middle class survives

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Context