A group of congressional Democrats announced late last week they will try to convince House and Senate appropriators to include $6 million for a postal banking pilot program in FY22 funding measures.
And this year, they said they are more confident that their plan will be enacted.
“The U.S. Postal Service is perfectly positioned to offer more financial services to every zip code: rural, urban, and suburban. It’s clear that we must act now to reestablish postal banking services,” Rep. Marcy Kaptur, (D-Ohio), a member of the House Appropriations Committee said at a news conference Thursday.
“Mainstream financial institutions and predatory lenders often take advantage of underbanked Americans with high fees and interest rates that keep them in a cycle of poverty,” Sen. Kirsten Gillibrand (D-N.Y.) said.