“Predatory,” “uncharitable” and “taking advantage” of are justsome of the descriptions that the media and mainstreamfinancial services describe check cashing centers, but do thepeople who frequent them feel they are being bilked?

“I used to bank at a credit union but they held my paychecks for10 days sometimes and I needed that money,” said George Fernandesof San Diego, CA, who has banked at Payday Loans Center for fiveyears. “I'm a day laborer and I get paid by lots of differentpeople so they would always look at my check like I forged it orsomething and then hold it. I finally had enough. The fees I pay tocash my check immediately are worth it.”

According to the USPS Inspector General, “There are about 34million underserved U.S. households, comprising more than a quarterof all American families. Being underserved often comes at a heftyprice. The average underserved household has an annual income ofabout $25,500 and spends about $2,412 of that just on alternativefinancial services fees and interest. That amounts to 9.5 percentof their income. To put that into perspective, that is about thesame portion of income that the average American household spendson food in one year. In 2012 alone, the underserved paid some $89billion in fees and interest.”