Even while the Occupy san francisco bay area encampment during the base of marketplace Street expressed outrage at big banking institutions and finance that is high it remained company as always at a few of the cityвЂ™s less glamorous financial establishments.
High-interest, unsecured вЂњpaydayвЂќ loans are plentiful at 32 establishments along marketplace Street plus in low-income communities round the town. A lot of people with bank reports qualify.
These storefronts that are stark where hard-pressed customers fall into line to talk to clerks behind Plexiglas windows and submit an application for high-cost payday advances вЂ” may seem unconnected to Wall Street.
But while their names and brands are nowhere to be noticed, banking institutions and rich investors based right right here or in remote economic enclaves like Manhattan or Zurich offer funds to or very very very own stakes in certain of San FranciscoвЂ™s biggest lenders that are payday. (more…)