PBS NewsHour, January 6, 2016: Why the poor face a higher cost of banking
“It’s expensive to be poor. The poor pay more for food, car insurance, even diapers. But perhaps the widest discrepancy is in the world of banking. Unable to maintain a minimum balance or provide the necessary ID to open a bank account, many poor people rely on fringe financial services like check cashing stores and payday lenders, which charge interest rates that can reach the triple digits.”