April 10, 2015
Postal Banking: Fiesta’s Letter to the Editor in The Washington Post
Nearly 100 million Americans do not have access to traditional banks or are underserved by them, leaving them at the mercy of predatory lenders. Payday loan sharks are charging annual interest rates of upwards of 400% and put these “unbanked” Americans at risk. This risk is particularly high for seniors. Mr. Fiesta advocates for postal banking in a Washington Post Letter to the Editor this week. He writes that postal banking is a practical, public, and easily accessible alternative for financial services, that its business model protects customers from abusive practices and that it makes financial services accessible and trustworthy. Read the piece at http://tinyurl.com/lxvvuwt.