Due to the global recession, large banks have been tightening access to credit, and major retailers around the world have stepped in to fill the void. For instance, a consumer in the US can apply for a home renovation loan at the Home Depot, or jumpstart a small business venture at Sam's Club. However, Latin America is the most prevalent area for this activity, and it comes down to the trust that consumers have with their retailers. Consumers in Latin America distrust banks due to years of hyperinflation and high interest rates, and have turned to retailers such as Super Farmacia, Elektra, and Soriana to pay bills, open credit cards, and even start simplified savings accounts.
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