The United States has two separate banking systems today―one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities―all thanks to deregulation that began in the 1970s and continues decades later.“Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal…How the Other Half Banks is well researched and clearly written…The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.”―Nancy Folbre, New York Times Book Review“How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.”―Lisa J. Servon, American Prospect
How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy
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About the Author
Mehrsa Baradaran is the author of The Color of Money and How the Other Half Banks and a celebrated authority on banking law. She is Associate Dean for Strategic Initiatives and Robert Cotten Alston Associate Chair in Corporate Law at the University of Georgia School of Law and has advised a number of politicians on postal banking, including Senators Kristen Gillibrand and Elizabeth Warren. The Color of Money was a finalist for the Georgia Author of the Year Award.