In the heartland of capitalism called the USA, there are "56 million individuals" who have no access to a regular financial system.
<blockquote>In 2002, there were almost 56 million individuals in the U.S. who did not have either a savings or checking account at a bank or other traditional financial institution.1 Additionally, over 83 percent of families without a bank account earn under $25,000.2 These families often use alternative financial services, including check cashing, payday loans, refund anticipation loans, and others, that provide convenience at high cost. A 2004 report estimated that these alternative financial services handled 280 million transactions, generating $78 billion in fee revenue.3 As a result, "unbanked" low-income workers who can least afford to pay more for basic services often do. They pay to cash checks, are subject to higher interest rates on credit, and pay higher fees and interest rates for consumer loans, auto loans, and home mortgages. (David Marzahl, O.S. Owen, Steve Neumann, and Joshua Harriman, "First Accounts: A U.S. Treasury Department Program to Expand Access to Financial Institutions," Profitwise News and Views, February 2006, <http://www.chicagofed.org/community_development/files/02_2006_first_accounts.pdf>)
Given recent (still continuing?) discussion of American Populism in the 19th century, I should add that populists called for establishment of postal savings banks in the Omaha Platform: "We demand that postal savings banks be established by the government for the safe deposit of the earnings of the people and to facilitate exchange" (at <http://www.historymatters.gmu.edu/d/5361/>). That was an excellent demand, but it still remains unrealized. -- Yoshie <http://montages.blogspot.com/> <http://mrzine.org> <http://monthlyreview.org/>