Beyond Payday Loans

In today's Wall St. Journal, former president Bill Clinton and California governor Arnold Schwarzenegger have an op-ed piece titled "Beyond Payday Loans" - where they write about efforts they're backing to help reduce the $8 billion spent on check cashing services, payday loans, etc. They write: "Here is one initiative that can unite progressives and conservatives as well as business leaders and community activists: helping the "unbanked" enter the financial mainstream by opening checking and savings accounts, and working collaboratively with financial institutions and community groups to develop and market products that work for this untapped market."