Over the past few decades, financial companies have begun charging more and more hidden fees. Devin Fergus explains why Americans pay so many fees and how these fees function to redistribute wealth from ordinary Americans to the wealthy – and how this strategy has especially impacted black Americans.
Devin Fergus is the Arvarh E. Strickland Distinguished Professor of History and Black Studies at the University of Missouri. He is the author of Land of the Fee: Hidden Costs and the Decline of the American Middle Class.
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