Statement I: Welfare banks are set up by the federal government to provide financial services to people receiving public assistance.
Statement II: The people who can least afford it have to pay the most for financial services.

Question

Quizplus · Accepted Answer

Statement I is false because there is no such thing as a welfare bank set up by the federal government. Statement II is true because people who are financially struggling often turn to alternative financial services such as payday lenders, which have high-interest rates and fees.

Statement I: Welfare Banks Are Set Up by the Federal