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All three are victims of our dysfunctional mainstream bank and
credit system. Today nearly half of all Americans live paycheck to
paycheck, as income volatility has doubled over the past thirty
years. Banks, with their monthly fees and high overdraft charges,
take advantage of these fluctuations rather than help their lower
and middle income customers manage them. Lisa Servon delivers
provocative dispatches from inside a range of banking alternatives
serving a steadily increasing number of Americans. She works as a
tellerat RiteCheck, a check-cashing business in the South Bronx; as
a payday lender in Oakland, California; and looks closely at the
workings of a tanda, an informal lending club. And she delivers
fascinating, hopeful portraits of the entrepreneurs reacting to the
unbanking of America -and designing systems to transform how
nonwealthy Americans can gain the access to and agency over their
own money that they, especially, need.
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