Question: Consider the following information from the guest presentation. How is this similar to the Grameen case we have studied? An unbanked person with average
Consider the following information from the guest presentation. How is this similar to the Grameen case we have studied?
"
An unbanked person with average income of $20k or less will spend
$1,200 a year on check cashing and money orders
Over $40,000 in unnecessary fees in their lifetime
...
Check cashing outlets can charge up to 400% interest
...
"
| a. | Grameen charges 400% interest on loans | |
| b. | Grameen clients were paying high fees to moneylenders before working with Yunus | |
| c. | Grameen clients relied on money orders before working with Yunus | |
| d. | Grameen charges a 6% fee on average to advance funds against a paycheck |
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