How Big Banks Are Cashing In On Food Stamps

[Hamlette]

5. I won't defend banks, but I will defend the use of EBTs

I'm familiar with the contracts with banks for EBT cards for unemployment benefits and public assistance. The bank must provide a mechanism to allow access to the funds at no cost to the client and the costs savings to the government are huge. The bank also has to go through a competitive bidding process. EBT cards are more convenient for clients to say nothing of the fact a client can use SNAP benefits anonymously, no more counting out the paper food stamps at the grocery store. The EBT card looks like a MasterCard.

Yes, I'm sure banks make a profit off them but you, as tax payers, do too, in a sense, through lower costs.