The Unbanking of America

in finance •  7 years ago 

The Unbanking of America: How the New Middle Class SurvivesThe Unbanking of America: How the New Middle Class Survives by Lisa Servon

My rating: 4 of 5 stars


Fascinating account, with lots of first-hand experience, of how people are rejecting the accepted wisdom that a Bank Account is a must and a key to freedom, and turning to a variety of alternative financing, which said wisdom keeps telling us are Bad and "predatory".

The analysis is sometimes marred by a kneejerk anti-corporate attitude. She has a section on how regulation brings complication and ensuing headaches for all, but does not seem to consider that regulation might be the problem. And she criticizes The Big Banks for not accepting the new NYC "ID", while noting that smaller banks like Amalgamated do. Er, sounds to me like the market addressing the problem.



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7 years ago by

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