This morning activists, union members and organizers packed the Post Office at 475 L'Enfant Plaza to deliver more than 150,000 petition signatures in support of Postal Banking. Speakers at the event included Congresswoman Eleanor Holmes Norton, Reverend Graylan Hagler, Rich Fiesta, Director, Alliance for Retired Americans, Alex Lawson, Executive Director of Social Security Works and Roger Hickey co-founder of Campaign for American’s Future. Deputy Postmaster General Ron Stroman accepted the petitions from Congresswoman Norton!
Right now, nearly 28% of U.S. households are underserved by traditional banks and are forced to turn to payday lenders, check cashers and other financial predators, spending on average 10% of their income on fees and services. These services are part of an industry that rakes in $103 billion a year at the expense of the most financial vulnerable.
Rev. Hagler explained that in some instances it has been documented that fees can range up to 1000%. Seniors desperately need the convenience of short distances and affordable services for their banking needs. The Postal Service has more than 30,000 offices nationwide who could deliver exactly the type of services that seniors, residents of rural communities and urban dwellers need.
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