The unbanked
I’ve always found it sad that banks will prey on the poor with sub prime mortgages and even underwrite pay day lenders. Yet they will not open up branches in areas that desperately need it. It’s the same thing with actual grocery stores. Many lower income areas suffer from the lack of this essential business as well.
State Senator Jeffrey D. Klein, who represents the area, said Van Nest’s banking problem is one reason the business community is less vibrant than neighboring Morris Park’s, which can boast of several bank branches.
“I don’t think you can have a thriving business community without a bank in the area,” Mr. Klein said. “They really need a bank to serve as the anchor for the community.”
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