BANKING: Of Furs and Feminists

Of Furs and Feminists

Founded twelve years ago by feminist activists, the First Women's Bank of New York has helped demolish several old-fashioned notions, like the idea that women are not well suited to handle money. But the bank is not above appealing to stereotypical womanly values. It now offers fine sable coats, in lieu of interest, to big-time customers. A deposit of $50,000 for five years earns a Canadian sable worth $25,000, or putting down $100,000 brings a $60,000 Russian coat. The furs are the equivalent of an 11 1/4% interest rate. The offer strikes many feminists as ironic and animal lovers as outrageous.

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