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Banks Making Big Profits From Tiny Loans - NYTimes.com
Jane Hahn for The New York Times Anita Edward says she has borrowed money three times from LAPO, Lift Above Poverty Organization, for her hair salon, Amazing Collections, in Benin City, Nigeria. More Photos » Actors like and lent their boldface names to the cause. Muhammad Yunus, the economist who pioneered the practice by lending small amounts to basket weavers in Bangladesh, won a Nobel Peace Prize for it in 2006.
How Banks Can Do Better - BusinessWeek
Bank of America's "Keep the Change" program automatically rounds up check-card purchases to the nearest dollar and transfers the difference to the customer's savings account IDEO Despite the very real prospect of prolonged economic malaise, the financial services industry is at an amazing moment. Consumers want new products and services to help them become more confident, educated caretakers of their own money. There's real opportunity here. Only, most big banks are letting startups figure out how to serve their customers better. This wait-and-see strategy may soon prove riskier and more costly than trying new things.
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