Forty-Six Percent of African Americans Households In South Carolina Without A Bank Account

The South Carolina Council on Economic Education reports that astonishingly, forty-six percent of the state’s African-American households don't have a checking or savings account, with many opting to use check cashing businesses that charge upwards of 20% annually.

"The check cashing places don't charge you as much.’ But Larry Wilson, Chairman of the SCCEE says don't be fooled by the fees. ‘It can be a significant portion of the take home pay of workers," says Wilson. Read on...