Cities have offered financial counseling to low-income people for years, but only recently have some tracked the impact of these services on clients' debt, credit and savings.
Many low-income people rely on payday lenders and check cashers that charge higher fees than traditional banks. (AP/Al Behrman)
For decades, nonprofits that serve the poor have tried to impart lessons about managing money, but until recently it’s been hard to know whether the services work. Now a multi-city initiative is tracking and sharing results, addressing the effectiveness of financial counseling for the poor.
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