There are lots of people who cannot get a bank or credit union account for one simple reason: Lack of identification.

I know it's hard to believe in today's tech bubble, but there are hundreds of thousands of people in America who simply don't have any identification. They might have a Social Security number they remember, but that's about it.

I'm not talking about hobos or criminals, but just people who choose to live a different lifestyle.

I was first introduced to this society when me and a bunch of friends cycled across the continent. We ran into all kinds of interesting — and very nice — people who just weren't on any official radar. Drifters, in a sense. People who just enjoy the freedom of working in a coffee shop in one city for a few months, then a bar in another city for a few months, then camping for a few months.

I'd forgotten about this subculture until a couple of weeks ago when the New York Times did a photo piece about the people who still ride Amtrak during a pandemic. One couple that was interviewed had to take Amtrak because they didn't have any official documents that would let them get on a plane.

Don't know how many people are unbanked due to refusal by financial institutions to open an account for them, but ChexSystems exists to let banks know if their potential account holder has had banking issues in the past. At the lower end of the economic spectrum where margins for error are low, there likely is a non-insignificant number of people with bad banking histories who now find it difficult to open a bank account.

I'm pretty sure even credit unions charge overdraft fees, although they might be less punitive than major banks.