Big Banks' Worst Nightmare

From personal experience, I know that when you're outside of the banking system, things get expensive. I would cash a paycheck (for a fee), buy a money order at a supermarket to pay rent (for a fee), put money on a reloadable debit card (for a fee). When you're making every dollar stretch, fees make a big difference. 


Every year, alternate financial service providers, like check cashers, reloadable debit cards, and predatory payday or auto-title lenders, take $103 billion per year out of the pockets of people that can least afford itWe should not stand by and let this continue.

Last week, United for a Fair Economy along with 17 other national organizations launched a petition that would ask the US Postal Service to begin offering nonprofit, low-cost banking services to the 67.5 million unbanked people in the US. This could be a game-changer for consumers, and offer a "public option" for banking. Please sign the petition today. 

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  • Rowan Webb
    commented 2016-04-12 03:51:05 -0400
    Most bank services can be automated these days, I don’t see why banks should be angry if they can get more business from an automated process like opening an account!


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