Financial literacy stories that break my heart….
Ryan Mack, one of my trusted lieutenants of Operation HOPE, told me recently of someone he spoke with who, after being approved for a $85,000 home equity loan, took the check --- to a check casher (because crazy enough, she did not have a bank account).
The check casher charged her -- a $7,500.00 fee for doing nothing but giving her back her own money. And adding insult to injury, the original check was drawn on a major bank, meaning cashing check with almost no risk associated to.
This example, and others like it, breaks my heart. And I hear them all the time.
Our empowerment work being carried out at Operation HOPE, with the growing Project 5117 portfolio, is helping to break this cycle. Bringing "silver rights" empowerment to all.
See how you can help.
John Hope Bryant