CALIFORNIA | LOCAL
July 27, 1993 |
Banks are in political trouble because people don't understand that they are businesses selling a product. Instead, they are seen as quasi-public agencies providing a "community service," and since they don't provide the same service to every customer at the same price, they are accused of discriminating. Some businesses sell food. Others sell clothes, shoes, appliances. Banks sell loans. That is, they will finance the purchase of a car or a house when the person lacks the cash purchase price.