Left behind by banks, poor Americans pay more to borrow
Clip: 1/6/2016 | 3m 34sVideo has Closed Captions
Left behind by banks, poor Americans pay more to borrow.
It’s expensive to be poor. Unable to maintain a minimum balance or provide the necessary ID to open a bank account, many low-income Americans rely on fringe financial services like check cashing stores and payday lenders, which charge interest rates that can reach the triple digits. Hari Sreenivasan learns more from Mehrsa Baradaran, author of "How the Other Half Banks."
Problems playing video? | Closed Captioning Feedback
Problems playing video? | Closed Captioning Feedback
Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...
Left behind by banks, poor Americans pay more to borrow
Clip: 1/6/2016 | 3m 34sVideo has Closed Captions
It’s expensive to be poor. Unable to maintain a minimum balance or provide the necessary ID to open a bank account, many low-income Americans rely on fringe financial services like check cashing stores and payday lenders, which charge interest rates that can reach the triple digits. Hari Sreenivasan learns more from Mehrsa Baradaran, author of "How the Other Half Banks."
Problems playing video? | Closed Captioning Feedback
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...