Big banks try to lure low-income customers

Filed under: AM Roundup |

Chasing fees, more large banks like Wells Fargo and U.S. Bank, are seeking low-income clients, according to the New York Times.

The banks now offer pre-paid debit cards with hefty fees, short term loans with high interest rates and check cashing options – all trying to lure low-income people.

These products all carry high fees and all were relatively untouched during recent bank-reform legislation.

Read more at the New York Times.