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The surprising logic behind the employment of check cashers and payday advances

The surprising logic behind the employment of check cashers and payday advances

Frequently viewed as predatory, the check cashing industry is booming. Lisa Servon wondered why lower-income individuals who had been struggling would cash checks in the place of finding a banking account, therefore she took work being a cashier to learn. just exactly What she discovered — so it’s frequently cheaper — could be the topic of her brand new guide, “The Unbanking of America.” Economics correspondent Paul Solman reports.