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  • Banking Services in Low-and Moderate-Income Communities, A Two-Tiered Financial Services System?

Banking Services in Low-and Moderate-Income Communities, A Two-Tiered Financial Services System?

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Excerpt from Banking Services in Low-and Moderate-Income Communities, A Two-Tiered Financial Services System?: Hearing Before the Subcommittee on Consumer Credit and Insurance of the Committee on Banking, Finance and Urban Affairs, House of Representatives, One Hundred Third Congress, Second Session A recent New York study shows that a consumer earning per ear will pay a check casher from $200 to $250 per year for checks cashed and monies ordered. Those same services would cost $70 or less at a federally regulated bank. Given that New York is on] 1 of 11 States that sets a ceiling on what can be char ed to cas a check, the check-cashing industry must be doing even etter in other parts of the Nation. Though the industry may claim that it is providing a convenient service to consumers, convenience comes at a terribly high cost. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.
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