Download or read book Improper Cashing of Checks by Check Cashing Services written by Helga Niesz and published by . This book was released on 1996 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses whether there are regulations to prevent improper cashing of checks by check cashing services and, if not, what can be done to tighten up the procedure.
Download or read book Fringe Banking written by John P. Caskey and published by Russell Sage Foundation. This book was released on 1994-08-24 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Cogently argued, fills an important gap in the literature, and is accessible to undergraduates." —Choice "Dismantles the mythology surrounding pawnshops and check-cashing outlets, and demonstrates that they are no longer on the fringe of our financial system but integral to it."—San Francisco Bay Guardian In today's world of electronic cash transfers, automated teller machines, and credit cards, the image of the musty, junk-laden pawnshop seems a relic of the past. But it is not. The 1980s witnessed a tremendous boom in pawnbroking. There are now more pawnshops thanever before in U.S. history, and they are found not only in large cities but in towns and suburbs throughout the nation. As John Caskey demonstrates in Fringe Banking, the increased public patronage of both pawnshops and commercial check-cashing outlets signals the growing number of American households now living on a cash-only basis, with no connection to any mainstream credit facilities or banking services. Fringe Banking is the first comprehensive study of pawnshops and check-cashing outlets, profiling their operations, customers, and recent growth from family-owned shops to such successful outlet chains as Cash American and ACE America's Cash Express. It explains why, despite interest rates and fees substantially higher than those of banks, their use has so dramatically increased. According to Caskey, declining family earnings, changing family structures, a growing immigrant population, and lack of household budgeting skills has greatly reduced the demand for bank deposit services among millions of Americans. In addition, banks responded to 1980s regulatory changes by increasing fees on deposit accounts with small balances and closing branches in many poor urban areas. These factors combined to leave many low- and moderate-income families without access to checking privileges, credit services, and bank loans. Pawnshops and check-cashing outlets provide such families with essential financial services thay cannot obtain elsewhere. Caskey notes that fringe banks, particularly check-cashing outlets, are also utilized by families who could participate in the formal banking system, but are willing to pay more for convenience and quick access to cash. Caskey argues that, contrary to their historical reputation as predators milking the poor and desperate, pawnshops and check-cashing outlets play a key financial role for disadvantaged groups. Citing the inconsistent and often unenforced state laws currently governing the industry, Fringe Banking challenges policy makers to design regulations that will allow fringe banks to remain profitable without exploiting the customers who depend on them.
Download or read book Check Cashing Stores written by United States. Congress. House. Committee on Government Operations. Human Resources and Intergovernmental Relations Subcommittee and published by . This book was released on 1995 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Unbanking of America written by Lisa Servon and published by Houghton Mifflin Harcourt. This book was released on 2017-01-10 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why Americans are fleeing our broken banking system: “Startling and absorbing…Required reading for fans of muckraking authors like Barbara Ehrenreich.”—Publishers Weekly (starred review) What do an undocumented immigrant in the South Bronx, a high-net-worth entrepreneur, and a twentysomething graduate student have in common? All three are victims of our dysfunctional mainstream bank and credit system. Nearly half of all Americans live from paycheck to paycheck, and income volatility has doubled over the past thirty years. Banks, with their high monthly fees and overdraft charges, are gouging their lower- and middle-income customers while serving only the wealthiest Americans. Lisa Servon delivers a stunning indictment of America’s banks, together with eye-opening dispatches from inside a range of banking alternatives that have sprung up to fill the void. She works as a teller at RiteCheck, a check-cashing business in the South Bronx, and as a payday lender in Oakland. She looks closely at the workings of a tanda, an informal lending club. And she delivers engaging, hopeful portraits of the entrepreneurs reacting to the unbanking of America by designing systems to creatively serve those outside the one percent. “Valuable evidence on the fragility of the personal economies of most Americans these days.”—Kirkus Reviews “An intelligent plea for financial justice…[An] excellent book.”—The Christian Science Monitor
Download or read book Who s Checking written by Meril Dobrin and published by . This book was released on 1988 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book U S Check Cashing Money Transfers Services written by Marketdata Enterprises, Inc. Staff and published by . This book was released on 1999-01-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business research report: Analysis of U.S. Check-Cashing and Money Transfer Services, market-size, growth segments market trends, competition, forecasts, operating ratios. Suitable for business plans. Text and tables.
Download or read book Government Check Cashing Lifeline Checking and the Community Reinvestment Act written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs and published by . This book was released on 1990 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United States Check Cashing Money Transfer Services Industry written by Marketdata Enterprises and published by . This book was released on 1999 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Government Check Cashing Lifeline Checking and the Community Reinvestment Act written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs and published by . This book was released on 1990 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Check Cashers and Banker s Discontinuance of Services written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A check cashing enterprise is a fee-based business that will cash a customer's check without requiring an account relationship. The U.S. check cashing industry underwent a significant expansion in the 1990s. Customers are attracted by the immediate access to funds, availability of service without a bank account, and convenience of extended hours of operation. In general, the industry is viewed as a provider of valuable financial services to an under served market segment. Check cashers are dependent on access to bank services to operate. Banks provide depository accounts, check collection and clearing operations, funds transfer, and access to lines of credit for liquidity purposes. Banks and check cashers are both subject to Bank Secrecy Act (BSA)1 regulations. The BSA is an anti-money laundering and antiterrorism financing statute. Federal regulators have cautioned banks that nonbank money service businesses (an umbrella term that includes check cashing enterprises) can present heightened money laundering risks. Consequently, some banks have discontinued their business relations with check cashers. The discontinuance of services to check cashers brought about complaints to regulators and increased lobbying of Congress. Bank regulators have issued guidance to clarify BSA compliance expectations. Congress held hearings on the concerns of banks and check cashers. This report will be updated as events and legislation warrant.
Download or read book Government Check Cashing Lifeline Checking and the Community Reinvestment Act written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs and published by . This book was released on 1990 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New York State Banking Department Licensing and Monitoring of Check Cashing Firms written by New York (State). Division of Management Audit and State Financial Services and published by . This book was released on 1998 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Check Cashing Services written by Helga Niesz and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The U S Check Cashing Money Transfer Services and Payday Loan Services Industry written by and published by . This book was released on 2002 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How the Other Half Banks written by Mehrsa Baradaran and published by Harvard University Press. This book was released on 2015-10-06 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines 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. “Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal...How the Other Half Banks is well researched and clearly written...The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.” —Nancy Folbre, New York Times Book Review “How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.” —Lisa J. Servon, American Prospect
Download or read book The Fair Access to Check Cashing Act written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer Affairs and published by . This book was released on 1988 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Check Cashing Services Study written by Roper Organization and published by . This book was released on 1989 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
