New Orleans The rise of interstate banking since 1980 has led to countless consolidations as major money center banks have reduced headquarters locations and branches where customers can easily do financial business. The Wall Street Journal reported that 1700 branches closed in a one-year period highlighting a trend after acceleration up to 2009 when …
Tag: FDIC
Middle Class, Walmart Lies, Too Big to Indict or Fail, Altruism, and Stress
New Orleans You wouldn’t believe it, if it weren’t true! Second Walmart Supplier Found in Bangladesh Fire Tragedy: Steven Greenhouse, NYT Scott Nova, executive director, of the Worker Rights Consortium, said the new documents raised additional questions about Walmart’s role at the factor. ‘If Walmart’s claim that they were the victim of one rouge supplier …
The Return of Lending Discrimination by Banks
New Orleans Finally there is some small notice of the fact that banks are abandoning the poor and their neighborhoods. A report from the FDIC (Federal Deposit Insurance Corporation) found that almost 1000 net branches had been lost in 2010. Certainly not surprising to anyone is that the loss has been much higher in lower …