Patriotic Millionaire on Gillibrand Post Office Banking Bill: “It’s a No Brainer”

Wednesday, April 25

For Immediate Release

Wednesday, April 25, 2018

Contact: Sam Quigley

[email protected]

202-446-0489

 

Gillibrand’s Post Office Banking Bill is a “No Brainer”

“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.”

 

Washington, DC – 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.”

For further comments or questions, please contact Sam Quigley at [email protected]

###

About the Patriotic Millionaires

Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system. You can find out more at http://patrioticmillionaires.org/about/

The Patriotic Millionaires have appeared on hundreds of media outlets here and abroad, including The Daily Show with Jon Stewart, the PBS NewsHour, The New York Times, Washington Post, CNN, MSNBC, Fox News, and many others. You can find more coverage at http://patrioticmillionaires.org/media

###

The Patriotic Millionaires
1701 K St NW
Suite 750
Washington DC 20006 United States