1. It's expensive to be poor.
- Subjects
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POOR people , *BANK service charges , *POVERTY reduction , *CREDIT card fees , *COST , *MONEY orders , *STORED-value cards -- Fees , *FINANCIAL services industry , *ECONOMICS - Abstract
The article discusses the efforts to eradicate poverty in the U.S. in relation to the costs that low-income Americans incur while conducting financial transactions with banking and non-bank financial services facilities. According to the article, there is a discrepancy between the costs of money orders issued by banks and U.S. post offices. Bank fees and the process of cashing a pay cheque at a credit union are examined, along with pre-paid debit card and credit card costs.
- Published
- 2015