Having a bank account is pretty much mandatory for the poor in Canada since Direct Deposit became a thing. Pretty much everything at every level of government is paid this way, as far as I know, and this process started in the 1990s. Now, it used to be a royal pain in the butt to get an account, but there were laws passed in the Chretien era that forced banks to cut out the bullshit because governments basically wanted to force everyone from welfare to pensioners to tax return getters to get a fucking bank account so that they could just do DD. It is much better, the banks aren't such ducking fickheads that they used to be, and there's no worrying about lost or stolen cheques. I have no idea who still uses Money Mart any more.
Some black people -- truly a minority, but some -- are unbanked. The majority of these are older black people that don't trust banks. I can't say I blame them. JP Morgan knows that. So you can bet whatever they are saying is a lie of some sort or another. Likely this is some sort of attempt to get more government money.
If 99% of white people have a bank account, and only 96% of black people do, voila. Several times more likely to be unbanked.
Having a bank account is pretty much mandatory for the poor in Canada since Direct Deposit became a thing. Pretty much everything at every level of government is paid this way, as far as I know, and this process started in the 1990s. Now, it used to be a royal pain in the butt to get an account, but there were laws passed in the Chretien era that forced banks to cut out the bullshit because governments basically wanted to force everyone from welfare to pensioners to tax return getters to get a fucking bank account so that they could just do DD. It is much better, the banks aren't such ducking fickheads that they used to be, and there's no worrying about lost or stolen cheques. I have no idea who still uses Money Mart any more.
Some black people -- truly a minority, but some -- are unbanked. The majority of these are older black people that don't trust banks. I can't say I blame them. JP Morgan knows that. So you can bet whatever they are saying is a lie of some sort or another. Likely this is some sort of attempt to get more government money.
If 99% of white people have a bank account, and only 96% of black people do, voila. Several times more likely to be unbanked.