{"id":839,"date":"2017-01-19T14:43:40","date_gmt":"2017-01-19T21:43:40","guid":{"rendered":"http:\/\/privatemoneysource.com\/blog\/?p=839"},"modified":"2017-01-19T14:43:40","modified_gmt":"2017-01-19T21:43:40","slug":"a-book-that-we-must-read","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/blog\/?p=839","title":{"rendered":"A book that we must read"},"content":{"rendered":"<p><em>Clay Sparkman<\/em><\/p>\n<p>This book strikes me as a must read for anyone in the lending business. I have not read it yet, but I intend to get started now. Have any of you read it, and if so, what was your take away?<\/p>\n<p><a href=\"http:\/\/www.publishersweekly.com\/978-0-544-60231-1\">Here<\/a><\/p>\n<p><strong>The Unbanking of America: How the New Middle Class Survives <\/strong><\/p>\n<p>Lisa Servon. Houghton Mifflin Harcourt, $27 (272p) ISBN 978-0-544-60231-1<\/p>\n<p>The failure of banks to meet the needs of the 99%\u2014and the cottage  industries filling the gap\u2014are thoughtfully explored in this startling  and absorbing expos\u00e9 from Servon, a professor of city and regional  planning at the University of Pennsylvania. As she describes, commercial  banks now cater largely to the wealthy, and more Americans are turning  to alternative financial services, including check cashers, payday  lenders, and a variety of informal arrangements. To better understand  the options available, Servon took jobs at RiteCheck, a check-cashing  establishment in the South Bronx, and Check Center, a payday lender in  Oakland, Calif. Surprisingly, she concludes that the seemingly predatory  \u201cshadow\u201d banking system may simply be a reasonable (if inconsistently  regulated) approach to customer demand. In layperson-accessible  language, Servon explains the effects of banking regulations\u2014both recent  and historical\u2014and of technological innovations in consumer financial  services. Most notable is the breadth of people she finds who have  removed themselves, or been removed, from the world of conventional  banking, including those with chronically low income, students, and  entrepreneurs. Required reading for fans of muckraking authors like  Barbara Ehrenreich, this fascinating look at the future of money  management insists that the ever-growing number of the \u201cunbanked\u201d are a  sector deserving of respect and solid options. <em>Agent: Adam Eaglin, Cheney Literary. (Jan.)<\/em><\/p>\n<p>Here\u2019s to a good year for all in 2017!<\/p>\n<p>&#8212; Clay (clay@privatemoneysource.com, 503-476-2909)<\/p>\n<p><em>Clay is Vice President of Fairfield Financial, a primary source  for private money loans since 1964. Fairfield works with a broad range  of private money investors, in a broker capacity, finding, underwriting,  presenting, closing, servicing, and when necessary, assisting in the  workout of difficult loans.<\/em><\/p>\n<table style=\"height: 1px;\" border=\"0\" cellpadding=\"0\" width=\"503\">\n<tbody>\n<tr>\n<td width=\"3\"><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Clay Sparkman This book strikes me as a must read for anyone in the lending business. I have not read it yet, but I intend to get started now. Have any of you read it, and if so, what was your take away? Here The Unbanking of America: How the New Middle Class Survives Lisa [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[2,9,19,24],"tags":[37,40,41,42,49,50,51,60],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/839"}],"collection":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=839"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/839\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}