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Finally, people are noticing the bank closings in Philadelphia
Last month Wachovia silently closed one its North Philadelphia bank at Front and Alleghany. It was a bank closing, like many of this city’s bank closings, that went unnoticed by much of Philadelphia and came unexpectedly to the citizens around it. It marks a trend: the rapid closing of banks in low income neighborhoods. To add insult to injury, across the street from the vacant Wachovia bank a check cashing place opened up. Such places are notorious for overcharging people to get their checks chased. “Grand Reopening – Current 1 Check Cashing” read the sign. Continue reading