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Bereft Of Banks
October 28th, 2006

An editorial in El Diario
decries the lack of banks in Latino and immigrant neighborhoods in New York City – the entire neighborhood of Bushwick has only two bank branches – and explains why banks are preferable to the “check cashers, pawn shops, and money transmitters [that] fill the vacuum. These businesses frequently attach high fees and interest rates for limited services that don’t allow immigrants to build needed credit history.”

By Jonathan Mandell on October 28, 2006, 10:04 am
In category: Gotham City, Public Finance | No Comments »

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