Most banks require monthly deposit or minimum balance to avoid a maintenance fee for a checking account. This is a discrimination to the poor. Historically, it took resources to maintain an account manually. It made some sense. With today’s technology, no sense to allow the fee.
In Delaware, ~20% of people are unbanked or underbanked. This means relying on expensive check cashing services for paychecks or money orders to pay bills. Public banks serve people without oppressive fees and benefit their own communities, not shareholders. This is needed.https://twitter.com/voxdotcom/status/1322163888314556416 …
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Postal banks would be great.
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Are we being forced into a cashless society?
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