Originally Posted by
gregf83
So you'd stick with the status quo rather than helping the poor obtain financial services. I think it's better to remove the need for poor individuals to have to use payday loan services at egregious rates than to keep the framework as is so the poor continue to be exploited. No reason the US can't make significant improvements in reducing the number of unbanked citizens. I read in one of the linked reports that Australia has 3% of individuals in the poorest quartile without banking services vs 25+% for the US (Canada was 9%).
As long as the status quo includes the ability to pay cash for bus rides, I have no problem with that. Most bus companies offer discounted fares for disabled, handicapped, students, and elderly people, which I support. Also, many social programs subsidize for eligible poor people, which I also support.
AFAIK, nobody serious is proposing that cash no longer be accepted for bus fares. (As I said several times, the real change is going to be in
where and when the fares (pre-boarding) are paid, rather than a made-up issue of
how they are financed.) My personal opinions about banking regulations and equity of access to financial services are far beyond the scope of this thread or forum.