Activists from the American Postal Workers Union, CWA and other allies delivered 150,000 petition signatures to the U.S. Postal Service Headquarters in Washington, D.C., calling on the organization to provide affordable financial services, including paycheck cashing, bill payment, savings accounts and small dollar loans, to consumers at its more than 30,000 branches. CWA is among 27 organizations supporting postal banking.
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Nearly 28% of U.S. households are under-served or completely denied service by traditional banks and are forced to turn to payday lenders, check cashing operations and other shady operators. These financial predators charge outrageous fees and triple digit interest rates for loans by targeting some of the most vulnerable Americans. The $103 billion a year that these shady operators take in costs families, on average, nearly 10 percent of their income for fees and services.
Rep. Eleanor Holmes Norton (D-DC) delivers 150,000 signatures from Americans who support postal banking to Deputy Postmaster General Ronald A. Stroman. Norton, now in her 13th term as a member of Congress, also leads the fight for full voting representation and democracy for the people of the District of Columbia.