For Immediate Release

Organization Profile: 
Contact: 

Sam Quigley, sam@patrioticmillionaires.org, 202-446-0489

Gillibrand's Post Office Banking Bill is a "No Brainer"

WASHINGTON - Today, following Senator Kirsten Gillibrand's (D-NY) introduction of legislation that would require every US post office to provide basic banking services in order to expand access to financial services to low-income Americans, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at BlackRock, Inc., released the following statement:

"Senator Gillibrand's bill is a long-overdue solution to the unfortunate fact that millions of Americans have been locked out of our financial system for too long, leaving them at the mercy of predatory payday lenders. Take it from a Wall Street veteran, our banking system was built by and for rich people like me, leaving low-income Americans with few reasonable alternatives.

Being poor in America is extremely expensive, but it doesn't have to be. This proposal could transform the financial lives of the nearly one-quarter of American households that are unbanked and underbanked, helping millions of Americans while costing American taxpayers nothing. It's a no-brainer."

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