Who’s stopping them?
March 26, 2010 | North Carolina, alternatives, industry | Comments (0)North Carolina Banking Commissioner Joseph Smith issued this banality during a speech yesterday:
Smith said that banks should be accessible to deserving poor families so they aren’t forced to use “alternative financial services.” He was referring to companies such as payday lenders, which have been accused of high rates and abusive practices.
You would think a banking commissioner would understand the finances of the business.
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