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Item Information   Copy / Holding Information     Choice Review     Table of Contents     More Content       More by this author     Baradaran, Mehrsa, 1978-     Subjects     Financial services industry -- United States.     Check cashing services -- United States.     Money services businesses -- United States.     Postal savings banks -- United States.     Banks and banking -- Social aspects -- United States.     Poor -- United States -- Social conditions -- 21st century.     Browse Catalog     by author:      Baradaran, Mehrsa, 1978-       by title:      How the other half b...       by call number:      332.10973 B223h     Search the Web     Baradaran, Mehrsa, 1978-     Financial services industry -- United States.     Check cashing services -- United States.     Money services businesses -- United States.     Postal savings banks -- United States.     Banks and banking -- Social aspects -- United States.     Poor -- United States -- Social conditions -- 21st century.       MARC Display

How the other half banks : exclusion, exploitation, and the threat to democracy / Mehrsa Baradaran. by Baradaran, Mehrsa, 1978- Harvard University Press, 2015. Call #: 332.10973 B223h Subjects Financial services industry -- United States.   Check cashing services -- United States.   Money services businesses -- United States.   Postal savings banks -- United States.   Banks and banking -- Social aspects -- United States.   Poor -- United States -- Social conditions -- 21st century. ISBN:  9780674286061 (hc.) Description:  328 p. ; 25 cm. Bibliography:  Includes bibliographical references (p. 227-313) and index. Contents:  Governments and banks -- History of the social contract -- Banks with a soul -- How the other half borrows -- Unbanked and unwanted -- Changing the world without changing the rules -- Postal banking -- A public option in banking. Summary:  The United States has two separate banking systems today -- one serving the well-to-do and another exploiting everyone else. This book contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. How a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities -- all thanks to deregulation that began in the 1970s and continues decades later. In an age of corporate megabanks with trillions of dollars in assets, it is easy to forget that America's banking system was originally created as a public service. Banks have always relied on credit from the federal government, provided on favorable terms so that they could issue low-interest loans. But as banks grew in size and political influence, they shed their social contract with the American people, demanding to be treated as a private industry free from any public-serving responsibility. They abandoned less profitable, low-income customers in favor of wealthier clients and high-yield investments. Fringe lenders stepped in to fill the void. This two-tier banking system has become even more unequal since the 2008 financial crisis. Baradaran proposes a solution: reenlisting the U.S. Post Office in its historic function of providing bank services. The post office played an important but largely forgotten role in the creation of American democracy, and it could be deployed again to level the field of financial opportunity. Mehrsa Baradaran is a professor at the University of Georgia School of Law. Holds:  0   Copy/Holding information Location Collection Call No. Item type Status   Central Library Adult Nonfiction 332.10973 B223h Adult books Checked in Add Copy to MyList

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