Paper Money

Why do people still use paper money? It’s easily lost, stolen, or destroyed, it’s a huge transmitter of disease, and it wears quickly and is a pain to replace. My mother always told me to hide a bit of cash away for emergencies. Although she means well, I feel like a bad cartoon pirate that still relies on my chest of gold every time I hoard pieces of paper. Besides, every time I “hide” money away, I end up handing it over the lady behind the counter at Memos within a week. In almost every way, electronic banking is superior Continue reading Paper Money

Impacts of Wells Fargo Scandal

Yesterday, news came out that Wells Fargo Bank would have to pay $185 million in fines in addition to the $5 million they had to pay to their customers for accounts that were set up without their approval. Essentially, customers were being charged fees for accounts they had not set up on their own. Patrick Rucker and Dan Freed from the Huffington Post note that, “In a complaint filed in May 2015, California prosecutors alleged that Wells Fargo pushed customers into costly financial products that they did not need or even request.” $100 million of the fines went to the Consumer Continue reading Impacts of Wells Fargo Scandal