Left behind by banks, poor Americans pay more to borrow
Clip: 01/06/2016 | 3m 34s
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."
Aired: 01/06/16Video has closed captioning.
The full episode is no longer available for online streaming. Why?
Please continue to enjoy extra(s) from this episode.
Problems Playing Video?
Major corporate funding for the PBS NewsHour is provided by BNSF, Consumer Cellular, Leidos, Babbel, and Raymond James. Funding for the PBS NewsHour Weekend is provided by Mutual of America. For a complete list of funders for the PBS NewsHour and PBS NewsHour weekend, click here.