Lisa Servon: The Unbanking of America


Manage episode 181777694 series 1468205
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers. Why are so many Americans CHOOSING to leave big banks and use less conventional ways to control their finances? Why are even some Americans who consider themselves "middle class" utilizing the services of check cashing and pay day loan services, which many people consider to be exploitative? What is the truth about the number of people in the United States who live paycheck to paycheck, often on the brink of financial disaster? At one point in our nation’s history, banks were a helpful part of our daily lives. However, in recent decades, Americans’ views of the banking industry have begun to change, and it’s becoming more apparent that banks put big profits first – before their customers. Are you tired of overdraft fees, questionable practices that always seem to benefit your bank, or costly checking accounts? Why is it so difficult to efficiently access your own funds? Well, you’re not alone. Many Americans are waking up and asking, What can we do about this? How can we take back control of our own money? Teresa's guest, Lisa Servon, is a university professor, media contributor, and the author of The Unbanking of America: How the New Middle Class Survives. As an expert on banking alternatives and wealth preservation, she is going to help us better understand the options available to us and how to finally get a leg up on the economic ladder.

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