ABOLISH POVERTY: Matthew Desmond on How We Can Do It
The Next Big Idea
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The Relationship Between Banks and the Poor
Banks charge $11 billion in over-draft fees each year. Only about 9% of account holders pay most of those fees, like over 80% of those fees. Wealthy Americans benefit because banks can profit from the excessive fees paid by people with less money. Our free accounts are subsidized by these overdraft fees or take credit cards.
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