Economy
Good Deed of the Day: A Parisian Bank Pays It Forward
One of the world's oldest micro-lenders cancels the debt of 3,500 clients
A Parisian bank paid it forward - quite literally - by canceling the debt of 3,500 of its clients this weekend. Credit Municipal de Paris (also known as the bank of the poor) gave clients with a debt of 150 euros or less a clean slate.
Credit Municipal has long a history of helping the less fortunate. For centuries, it has allowed the needy to get loans against their valuables, making it one of the world's first micro-lenders. According to GOOD, the move is a way for the bank to celebrate its 375th anniversary.