Optimist Economy Can the U.S. Go ‘Cashless?’
10 snips
May 12, 2026 They dig into why cash still matters for millions who are unbanked or underbanked. They unpack ChexSystems, payday lenders, and how discriminatory banking practices widen racial gaps. They explore postal banking as a public alternative and what keeping cash means for privacy, choice, and limiting finance-sector power.
AI Snips
Chapters
Transcript
Episode notes
Public Expects Cashless Future Despite Stable Cash Use
- Most people expect a cashless future, but cash usage stabilized after the pandemic with ~80% still carrying cash.
- Gallup found 70% of Americans under 50 think cashless is likely in their lifetime, despite increased cash hoarding.
Cashless Choice Affects The Unbanked And Policy
- Going cashless would harm people who rely on nonbank financial services and cut choice for consumers.
- Nine states plus D.C. ban fully cashless businesses and the Payment Choice Act would require retail businesses accept cash up to $500.
Scale Of Unbanked And Underbanked In The U.S.
- About 4–6% of adults or households are completely unbanked, and ~14% are underbanked who still rely on alternative financial services.
- Unbanked and underbanked rates concentrate among low-income households under $25k–$50k.