- by Mark D. Fefer
- Information & Comment
Seattle-based check-cashing and payday-loan chain Moneytree is really a homegrown success story thatвЂ™s made great strides in changing the shady trustworthiness of its industry, as Laura Onstot described in a SW address tale final springtime (вЂњi’ve a Scheme,вЂќ March 12).
Plus some many thanks it gets!
The town of Seattle recently established a brand new program called вЂњBank on SeattleвЂ“King County,вЂќ whose express function is to find visitors to start bank reports and prevent utilizing solutions like MoneytreeвЂ™s. You have a great alternative,вЂќ says the cityвЂ™s marketing materialsвЂњIf you rely on expensive check-cashing services, now. In a well known fact sheet in regards to the system, the town continues on to explain: вЂњPredatory financing and check-cashing methods exploit low- and moderate-income individuals by stripping very nearly $22 million from families and communities in Seattle alone.вЂќ