Chicago Fed's Moskow on community development

In a speech on 'Lessons for Community Development Financial Institutions' given on 5 November, Michael Moskow of the Federal Reserve Bank of Chicago said Community banks could learn from some of their competitors, such as check-cashing services, and offer more services to their customers.

In a speech that did not touch on the US economy or monetary policy, Moskow said that fringe financial institutions, such as check cashers and payday lenders, were successful at connecting with their customers

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