How to Turn GameStop Into Your No-Fee Bank

Photograph by Patrick T. Fallon/Bloomberg

More than one in four American households is considered “underbanked,” left to make financial transactions largely outside the normal channels of the banking system. That’s understood to encompass things like prepaid debit cards, payday loans, pawnshops, refund-anticipation loans, and other unorthodox ways of moving money without traditional banks. The academics and government agencies studying (PDF) this worrisome trend have probably never considered GameStop as an unorthodox bank.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.