How the Other Half Banks - Mehrsa Baradaran
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- Опубліковано 5 жов 2024
- The United States has two separate banking systems--one serving the well-to-do and another exploiting everyone else. Deserted by banks and lacking credit, many people are forced to wander through a Wild West of payday lenders and check-cashing services thanks to the effects of deregulation in the 1970s that continue today. In "How the Other Half Banks," legal scholar Mehrsa Baradaran proposes a solution: reenlisting the U.S. Post Office in its historic function of providing bank services.
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Incredible and important history. Can't wait to read the book.
Post office? I wonder how long I should wait for Indonesia applying this concept.
Great ideas!
The problem I see in this logical idea is how wretchedly the Post Office, on the highest levels, is run. Have you been to a post office in a low income area? The employees are miserable!
banks retail business model is based almost 100% on fees. Anyone who thinks banks pay interest on deposits (for the pat 7 years) needs to revisit the arithmetic. Depositers pay banks for the privilege.Fees of $ 20.+ per month, plus extras, and AATM fees and gouge job wire fees fro incoming and outgoing,, far exceed the few basis points paid on deposits So, anything but banks will flourish. Any customer can deal in a large schema of banking types on line. faster, easier, more convenient 24/7 and....... one takes no guff from poorly trained staff of banks. Banks are stuck with branches and even adding them as it is their # 1 source of deposits. Ironies. Lending is open for all comers.
Not an original thought in the book. Even the title is lifted from previous articles on financial reform and the ideas are all known.