Adam Serwer on community development banks:
Late last summer, Gloria Stallworth, a resident of Chicago’s South Side, was hospitalized with stomach pains. The 54-year-old mother and nutritional supervisor at a local hospital was told by doctors that her pain was due to anxiety, and Stallworth knew exactly what was wrong. She was drowning in bills; specifically, her adjustable-rate mortgage seemed to take more and more money out of her pocket every month.
“It was a nightmare,” Stallworth says. “My mortgage was going up but my pay wasn’t moving.”