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Keeping a bank account: A fearful, challenging process for some on Long Island
- A lack of bank accounts often costs low-income people, the FDIC said. Unbanked people are more likely to turn to pawn shop loans, money orders or check cashing services, which have fees. Moreover, the money can be stolen without recourse, whereas deposits in FDIC-insured banks are covered up to $250,000.
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Read the Full Newsday Article at:
[ https://www.newsday.com/long-island/bank-account-long-island-lq8vn3p7 ]
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