Banking

12:51pm

Fri June 14, 2013
Planet Money

When People Make Their Own Banks

Originally published on Fri June 14, 2013 4:12 pm

Harlem funeral directors Tamara Bullock and Patricia Hamilton are going to spend their next savings-club payout on a sky-diving trip (unless Bullock can get out of it).
Marianne McCune NPR

Miguelo Rada doesn't seem like the kind of guy who'd have extra cash. He just spent 32 years in prison, he lives in a halfway house in West Harlem, and his current income comes only from public assistance.

He uses food stamps for food, wears hand-me-down clothes and buys almost nothing. He is also an unofficial bank.

"If somebody asks me, 'Can I borrow $20?' If I have it I'll say, 'Here!' " he says.

This kind of borrowing is one way people do what economists call "consumption smoothing" – basically making spending more regular, even when income is not.

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9:49am

Tue June 11, 2013
The Two-Way

Report: Overdraft Protection Puts Customers 'At Greater Risk'

Originally published on Tue June 11, 2013 11:44 am

Richard Cordray, the director of the Consumer Financial Protection Bureau.
T.J. Kirkpatrick Getty Images

The Consumer Financial Protection Bureau is looking at how overdraft fees affect consumers in a detailed report released Tuesday.

One of the stunning finds: "Overdraft and non-sufficient funds fees accounted for 61 percent of total consumer deposit account service charges in 2011 among the banks in the CFPB report."

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8:31am

Thu June 6, 2013
The Two-Way

Microsoft, FBI Say They've Disrupted $500 Million Botnet

Originally published on Thu June 6, 2013 10:11 am

Buttons with the Microsoft logo are seen at a Comp USA store in 2007.
Justin Sullivan Getty Images

1:24am

Wed June 5, 2013
Adventures In Investing

Resisting The Temptation To 'Win' When Investing

Originally published on Wed June 5, 2013 6:17 pm

Hey mutual fund investors: Think you can beat the market? Charley Ellis, who's worked in investment management for 50 years, doubts it. That's because the fees actively managed funds charge can get expensive.
Richard Drew AP

NPR's Uri Berliner is taking $5,000 of his own savings and putting it to work. Though he's no financial whiz or guru, he's exploring different types of investments — alternatives that may fare better than staying in a savings account that's not keeping up with inflation.

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3:17pm

Tue May 28, 2013
Planet Money

In A Single ATM, The Story Of A Nation's Economy

Originally published on Tue June 4, 2013 2:35 pm

A bank in Yangon recently opened the first ATM in Myanmar that's connected to the rest of the world.
Lam Thuy Vo / NPR

Nan Htwe Nye works at an elementary school in Yangon, Myanmar. She started trying to use ATM machines a few months ago, and things haven't been going so well.

The machines are often broken, she says. "But," she adds, "we hope it will better in the future." This is, more or less, the story of ATMs — and of banking in general — in Myanmar.

She's visiting the headquarters of CB Bank, at the first ATM in the country that was connected to banks all around the world.

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