EDUCATE! BANK, ECONOMIC JUSTICE, FINANCE AND THE ECONOMY, RACIAL JUSTICE
State of the Dream 2015: Underbanked and Overcharged is United for a Fair Economy’s twelfth annual look at race, wealth, and inequality.
This 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.
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 PDF: SOTD15.pdf (2.01 MB)http://faireconomy.org/sites/default/files/SOTD15.pdf
By United For A Fair Economy, www.faireconomy.org
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