An story from NPR on how people are already creating their own banks with their family and friends.
"I rely on their honesty".
A fascinating story about a man named Miguelo who lends money to friends based on the principle of social trust.
I don't know about banks, but the sou-sou has been around forever… And everybody is counting on me to be accountable, so I do it.
A lady named Tamara who organized a collective savings group (a sou-sou) amongst her friends and used the money to pay off an unexpected bill.
It's a lot more fun to figure this out with everybody. My bank doesn't get excited with me.
But this doesn't always work out great. How do you avoid the loan shark or the shady friend?
Frank makes this easier.