The wage gap translates into an annual median loss of $22,692 for Black women, $29,724 for Latinas, and $28,797 for Native women. Closing the wage gap is vital for Black women, Latinas, and Native women who tend to have lower incomes than white, non-Hispanic women.
“In fact, the average unbanked family with an annual income of around $25,000 spends about $2,400 per year, almost 10 percent of its income, on financial transactions.”
- Mehrsa Baradaran
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