Friday, September 14, 2007

Cash to Get By Is Still Pawnshop’s Stock in Trade - New York Times

That's a lot of pawnshops!! 

The number of pawnshops in the United States has grown to about 12,000 today, from 4,800 in 1986, according to John P. Caskey, an economics professor at Swarthmore College who is the author of “Fringe Banking: Check-Cashing Outlets, Pawnshops and the Poor.” The increase is part of the spread of check-cashing outlets and other alternative financial services that have become ad hoc banks for the so-called unbanked — the millions of Americans who do not have a bank account.

Cash to Get By Is Still Pawnshop’s Stock in Trade - New York Times

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