Why are more Americans turning from commercial banks to alternative financial services?
For many members of the 99%, keeping a bank account open costs more than they can afford. People are also less confident that banks prioritize clients' interests over their own, and big bank scandals aren't helping to boost that confidence.
Without a bank, paychecks can be cashed immediately in exchange for a fee, starting a cycle that eats away at the income of workers who are barely scraping by.
What is it like to be "unbanked" in America? How can San Antonio residents seek free financial help?
Guests:
- Lisa Servon, professor of City & Regional Planning at the University of Pennsylvania and author of "The Unbanking of America: How the New Middle Class Survives"
- Joe Valenti, Director of Consumer Finance at the Center for American Progress
- Angela Martinez-Alvarado, Senior Management Analyst in the Family Assistance Division for the City of San Antonio's Department of Human Services
