Predatory lenders are whack. I’m talking about Western Union and all those other mufuckas who cash checks and send money orders for ridiculously unreasonable fees. They prey on poor and immigrant communities because most of these folk are not able to start bank accounts due to restrictions and thus rely on Western Union and the like to cash their checks and send money. Again, corporate America shafts the poor.
Not in the Sucka Free though. A program in San Francisco that is part of an agreement with around 15 banks and the city government is allowing low-income residents to open no-hassle checking and savings accounts without restrictions due to income, immigration status, etc. The program is apparently catching on. The SF Chronicle reports that: “ New York, Boston, Chicago and Atlanta have contacted San Francisco officials about the effort. Los Angeles and Seattle are taking steps to create similar initiatives, and the National League of Cities is encouraging other cities to adopt the model.”
Good shit, San Fran. Thats the type of shit the Bay should always be doing. If we truly want to take ownership of our image as a “liberal” or even “progressive” region, these are the types of programs and policies we should fight for.