Banking Deserts

The internet has revolutionized many areas of our lives. That includes banking. Rather than having to stand in line at a bank branch, most transactions can be taken care of with a couple of taps on your smartphone. As a result, banks are closing more and more branches, leading to the rise of banking deserts. But for business owners and people living in rural areas, that creates a lot of problems. Radio America’s Claire Alfree takes us through the rise of banking deserts, why physical banking locations are still very important, and what options people have if they don’t live near a bank.