Unbanked and Overcharged looks at the banking industry from the perspective of low-wage workers and people of color. This groundbreaking report finds that over one in five households (mostly Black, Latino, or Native American) are underserved by the banking industry, costing these households an average of $3,029 per year in fees and interest just to access their own money. This "wage theft" takes a total of $103 billion per year out of the communities that need it most.

We found that over one in five households (mostly Black, Latino, or Native American) are underserved by the banking industry, costing these households an average of $3,029 per year in fees and interest just to access their own money. This "wage theft" takes a total of $103 billion per year out of the communities that need it most. This report makes several recommendations that could expand access to accessible, affordable banking services, including expanding the role of the US Postal Service. By expanding postal banking services in 31,000 locations across the nation, we can increase access to important wealth-building tools in those communities that are currently underserved. Download the full report here.

Download the Full Report Here (pdf)

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