They might make the gigantic too-big-to-fail banks want to turn away from lower-profit customers but credit unions are absolutely a thing. In my area, several

They might make the gigantic too-big-to-fail banks want to turn away from lower-profit customers but credit unions are absolutely a thing. In my area, several credit unions offer payment accounts--with debit cards and without a monthly fee--for people who have had accounts closed due to overdraft or who have an ITIN instead of a SSN. I'm not really moved by "if we don't let the TBTF banks charge whatever they want, they might not like us". We have not-for-profit institutions and community-focused banks for a reason. At bottom, we should introduce postal banking like a lot of over countries to get ourselves out of this reliance on those banks.