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France's "Bank of the Poor" Forgives Debts

By Jack Palmer
Mont-de-Piete in Paris. Photo via Wiki Commons
Mont-de-Piete in Paris. Photo via Wiki Commons http://commons.wikimedia.org/wiki/File:Cr%C3%A9dit_municipal_de_Paris,_55_rue_des
Jan 25, 2012
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GOOD.is reports that some lucky customers of France’s oldest bank have had their loans forgiven, in a gesture that marked the Crédit Municipal de Paris’s 375th anniversary (or is that anniversaire?) The bank has a history of looking out for its customers and was in fact founded (in 1637) as a bank that would give “the needy access to fair banking” — something that was certainly not commonplace in the 17th Century.

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Mont-de-Piete in Paris. Photo via Wiki Commons http://commons.wikimedia.org/wiki/File:Cr%C3%A9dit_municipal_de_Paris,_55_rue_des
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