<p>NEW YORK – The number of check cashing outlets doubled in the past five years in the U.S., according to Marketdata Enterprises, a market research firm. The firm reports that check-cashing outlets, money transfer services, payday loan providers and other industries aimed at the unbanked grew to almost $6.6 billion in 2001. Marketdata reported that they are projected to increase 10% in 2002 to 7.3 billion. Money transfer services are the largest and fastest growing segment of this industry with growth hitting 13.4% per year, the firm reported.</p>
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.