The Unbanking of America How the New Middle Class Survives Lisa Servon 9780544602311,0544602315

The Unbanking of America How the New Middle Class Survives Lisa Servon – Ebook Instant Download/Delivery ISBN(s): 9780544602311,0544602315

Product details:

• ISBN-10 ‏ : ‎ 0544602315
• ISBN-13 ‏ : ‎ 978-0544602311
• Author: Lisa Servon

What do an undocumented immigrant in the South Bronx, a high-net-worth entrepreneur, and a twenty-something graduate student have in common? All three are victims of our dysfunctional mainstream bank and credit system. Today nearly half of all Americans live from paycheck to paycheck, and income volatility has doubled over the past thirty years. Banks, with their high monthly fees and overdraft charges, are gouging their low- and middle-income customers, while serving only the wealthiest Americans.

Lisa Servon delivers a stunning indictment of America’s banks, together with eye-opening dispatches from inside a range of banking alternatives that have sprung up to fill the void. She works as a teller at RiteCheck, a check-cashing business in the South Bronx, and as a payday lender in Oakland. She 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 by designing systems to creatively serve many of us.  Banks were once essential pillars of our lives; now we can no longer count on them to do right by us.

“Required reading for fans of muckraking authors like Barbara Ehrenreich, this fascinating look at the future of money management insists that the ‘unbanked’ are a sector deserving of respect and solid options.” —Publishers Weekly, starred review

Table of contents:

Chapter 1. WHERE EVERYBODY KNOWS YOUR NAME
Chapter 2. BANKONOMICS, OR HOW BANKING CHANGED AND MOST OF US LOST OUT
Chapter 3. THE NEW MIDDLE CLASS
Chapter 4. THE CREDIT TRAP: “BAD DEBT” AND REAL LIFE
Chapter 5. PAYDAY LOANS: MAKING THE BEST OF POOR OPTIONS
Chapter 6. LIVING IN THE MINUS: THE MILLENNIAL PERSPECTIVE
Chapter 7. BORROWING AND SAVING UNDER THE RADAR
Chapter 8. INSIDE THE INNOVATORS
Chapter 9. REJECTING THE NEW NORMAL

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