Originally Posted by jamiesann
If based on the assumption that your refering to inner-city blacks, I'll politely disagree with you about the acessibility of commercial banking being the same as oustide the inner-city.
Have you ever tried finding a BANK ATM machine, not to be confused with ATMs found in party stores/check cashing businesses/Western Unions, in the inner-city? It's not as easy as finding one in the 'burbs. A bank is a business. In general, inner city blacks are not known for maintaining a savings account which allows banks to lend money and profit from the interest. They are also not known for having stellar credit scores which would qualify them for a loan. Now, factor in the crime rate and you'll see why banks aren't on every corner in the inner-city.
What does this give rise to? Check cashing businesses! What do these check cashing services do? That's right, they cash checks for a fee! (~10-17% IIRC). Would you say you have equal spending power compared to some suburbanite who gets free checking at the local bank when you have to cough-up 10-17% of your bring home just so you can spend it?
I can rattle of 20+ major American cities I've been to, every time it's smack dab in the ghetto, and have tried to find a bank ATM. It's the same story everywhere....