Michael Correa carefully counted their money, stashed some in a pocket and folded the remainder into his wallet that is battered as left certainly one of three check-cashing stores near Fruitvale Avenue and Overseas Boulevard.
вЂњThese places bleed me dry,вЂќ Correa stated, shaking their mind. вЂњBut I require the money at this time. Exactly just What else have always been we gonna do? allow them to shut down my phone? We donвЂ™t think so.вЂќ
Correa, like numerous Oaklanders who struggle from paycheck to paycheck, usually uses check-cashing shops to obtain access that is easy cash вЂ” and also to tide him over as he discovers himself struggling to spend their bills.
But convenience could be costly.
Based on the Oakland City Council, the businesses that are booming on the indegent like Correa by billing excessive charges and interest while inhibiting municipal efforts to revitalize the townвЂ™s poorest communities, such as for instance Fruitvale, by exacerbating blight.
underneath the brand brand new laws used week that is last the council, conglomerates and business owners wishing to start check-cashing businesses will need to make an application for a small conditional-use permit and curtail their hours of procedure while using actions to guard their clients from robberies.