The U.S. Postal Service is still trying to find ways to recover after repeated attacks under Trump and his Postmaster General Louis DeJoy, who still presides over the USPS. Congress and President Biden must immediately focus on ways to support this public institution.
One service that could not only strengthen the USPS but also serve individuals underserved by private institutions is postal banking.
Postal Banking is simply the provision of financial services via the USPS. By allowing consumers to open a bank account at their post office, Postal Banking could help over 7 million American households that are unbanked — meaning they lack access to a checking account or basic financial services. Postal Banking would not only bring basic financial services like low-cost savings and checking accounts to post offices but also take aim at predatory practices — payday loans, high-fee prepaid debit cards, overdraft fees — that have taken advantage of unbanked and underbanked Americans.
Additionally, this bill provides the potential for the USPS to acquire billions of dollars in assets, taking great financial pressure off of one of our oldest institutions.
We must demand Congress pass the Postal Banking Act and support not only the USPS, but underserved communities across the country. Thanks for all you do, Erin Tulley, Daily Kos.
|
Aucun commentaire:
Enregistrer un commentaire