Millions shun bank accounts in US cash economy
In a trend noted by the Federal Reserve, up to 28 million Americans avoid traditional banks due to mistrust, language barriers, or fear of fees. The article profiles Rosa Alvarez and Carlos Maren, who rely on check cashers in Washington DC, paying upfront charges that add up over time.
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Washington
United States
Wal-Mart
Federal Reserve
Fed
Rosa Alvarez
Alvarez
Texas
Carlos Maren
Maren
Leone] Mendoza
Adams Morgan
Washington, D.C
Mexico
Consumer Federation of America
Banks chase the unbanked as costs and distrust rise
A Federal Reserve survey shows many families avoid checking accounts to dodge fees and min balances while banks target the unbanked through community programs. High penalties for bounced checks and monthly costs deter low income groups, with growth in bankless populations across new regions, including Tennessee North Carolina and Indiana.
MENTIONED IN THIS ARTICLE
John Caskey
Swarthmore College
Caskey
James Ballentine
American Bankers Association
Ballentine
Fed
Tennessee
North Carolina
Indiana
Federal Reserve
Waldheim Buried Amid Dignitaries in Vienna Funeral
Former Austrian president Kurt Waldheim was laid to rest in Vienna with few foreign dignitaries present while officials defended him against Nazi allegation smears. He died June 14 at 88, having served as U.N. chief and been linked to controversy during his presidency.
MENTIONED IN THIS ARTICLE
Waldheim
Vienna
Austria
Kurt Waldheim
U.N
United States
Alfred Gunsenbauer
Socialist Party
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