News OK: In big cities and affluent areas, banks can seem as ubiquitous as coffee chains. Making a deposit or stopping in to talk about a loan can be about as simple as grabbing a nonfat vanilla latte with an extra shot, no foam.But many Americans — those living in poor neighborhoods or in rural communities — don’t enjoy such convenience. They rely instead on costly … Read More
Capital & Main: Several years ago when my wife Susan and I traveled across Ireland by local bus, we headed toward a national cultural site a few miles beyond the nearest town. The route the bus took crossed a rural peninsula, and finally to the little community. As we wound through the country roads, old people climbed aboard, and when … Read More
The Nation: Nine years ago, a Harvard law professor dreamed up a new concept: a government agency devoted solely to protecting consumers from unscrupulous financial companies, the way the Consumer Product Safety Commission protects us from faulty microwaves. Today, Elizabeth Warren’s Consumer Financial Protection Bureau (CFPB) is in full effect, and has already netted Americans about $10 billion in remedies … Read More
Law Street: If you are tempted to take out a payday loan you might want to take Sarah Silverman’s advice and try literally anything else. The trouble is, there are rarely other options and here in the United States there are 40 million Americans who are “unbanked,” without access to the formal financial system. Shockingly, these Americans spend the same … Read More
Nation Magazine has an article on postal banking by University of Georgia Law Professor Mehrsa Baradaran, the author of the 2015 book “How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy." It's about how regulated, federally subsidized banks serve the wealthy and the middle class, while a Wild West hodgepodge of unregulated lenders serves everybody else. Read more.
Some people just love to complain about the Postal Service, but the vast majority of Americans are pretty happy with the service they receive at their post office. In fact, several new surveys show once again that people think the post office is just fine. According to a new Gallup poll, Americans rank the customer service they receive at post … Read More