Payday Loan

Why Have Banks Stopped Lending to Low-Income People In The Us?

Why Have Banks Stopped Lending to Low-Income People In The Us? The Federal Reserve released its annual collection of data gathered under the Home Mortgage Disclosure Act at the end of September. The report details that the country’s three largest banks—Wells Fargo, Bank of America, and JPMorgan Chase—have sharply cut back on lending to low-income people over the past few…

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