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Microfinance could wind up being the new subprime

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Like the microcredit movement that it grew out of, the push for “financial inclusion” challenges the current state of affairs. Currently, using money is by far the most expensive for people with the least money to spare. There’s a need to fundamentally rethink financial services along more inclusive lines.

What could be wrong with expanding financial services to include the billions of people currently left out of the traditional banking sector?

For more on this story visit the following link: Microfinance could wind up being the new subprime 

Source: The Conversation

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