or even at all! large amount of Americans don't even have access to banking.
The loans they can get are insanely (i think disgustingly) predatory.
payday loans with fees can ed up being like 664% APR!!!!! Your 500 loan becomes 2000 you have to pay back in a couple months, which you obviously can't..
Right it's crucially important we leapfrog all this crypto and fintech nonsense by just doing "fed accounts for all" administered electronically and at the post office.
Boring commercial banking should be utility, and any private sector offering will have to compete with a new non-grifter baseline.
The loans they can get are insanely (i think disgustingly) predatory.
payday loans with fees can ed up being like 664% APR!!!!! Your 500 loan becomes 2000 you have to pay back in a couple months, which you obviously can't..
https://www.cnbc.com/2021/02/16/map-shows-typical-payday-loa...