African Americans underserved by U.S. banks: study

By Imani Moise (Reuters) - Many African Americans have difficulty accumulating savings in part because they lack access to mainstream financial services like banking, a new study on the contributing factors to the U.S. racial wealth gap by McKinsey & Co found on Tuesday. Many minorities in the United States depend on more expensive financial services like check-cashing counters since there are fewer banks in non-white neighbourhoods

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