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He established a reputation for dealing with the big players of the fringe banking world.
Certainly the fringe banking crisis of 1973-74 occurred at a time of a large inflow of new institutions into the market as a result of the perceived liberal market conditions brought about through competition and credit control.
As I argue in "Fringe Banking: Check-Cashing Outlets, Pawnshops and the Poor" (to be published by the Russell Sage Foundation), the boom in check-cashing outlets has been national and began in the late 1970's.
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