For America’s Unbanked: Re-establishing the Postal Savings Bank
Fact: Tens of millions of Americans do not have a bank account. As a result, many of these Americans spend a reported $89 billion annually in interest and fees by using predatory services such as payday loan and check cashing services. It’s a perpetuating cycle of poverty in which the poor get poorer just by accessing their own money. Fortunately, there is an ideal solution staring us in the face. An important voice driving the conversation is Professor Mehrsa Baradaran of the University of Georgia Law School.
