Advocates for the poor also worry that lower-income neighborhoods will feel the brunt of branch closings, forc ing more residents to turn to payday lenders, check cashing services, and other institutions that typically charge higher fees.
“Residents of those neighborhoods will be paying much more to cash their checks, to get loans, and to do their business,’’ said Jesse Van Tol, a spokesman for the National Community Reinvestment Coalition, a Washington advocacy group. “It’s a trend that threatens to create a dual banking system in America: one for the wealthy and one for everybody else.’’
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