More financial services irony . . .

One of the largest corporations in the United States is providing important financial services to people underserved by the financial services industry.

Pull quote: “Jennifer Tescher, chief executive at the Center for Financial Services Innovation, which focuses on finding financial services for those not well served by banks, said Wal-Mart brought much-needed competition — and lower fees — to financial services. ‘I think it’s one of the best things that has happened in the last 10 years for underserved consumers,’ she said. ‘There is now much more choice in the marketplace for consumers, where they can vote with their feet.'”

One of the least noticed ironies of our time is how much benefit is provided to people in our country who need it most, by major corporations that are vilified by people who need it least. It seems that in the minds of some activists, the actual result of their agenda for actual living persons is less important than the idealized outcome for an abstract population.

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