Postal Banking Supporters Confident Congress Will Allow Pilot Program

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.

CONTINUE READING AT » Credit Union Times
Subscribe
Notify of
1 Comment
Inline Feedbacks
View all comments

The US Postal Service had this many years ago and believe it should be added to the services now provided!