The U.S. Postal Service’s Office of Inspector General (OIG) issued a report today on “The Road Ahead for Postal Financial Services.” Below is a statement from Fredric Rolando, president of the National Association of Letter Carriers: The OIG’s report contains interesting observations and recommendations on ways the Postal Service can begin to serve the needs […]
USPS OIG Report Paints Bright Future for Postal Banking 05/21/2015 – A report by the USPS Office of Inspector General (OIG) released May 21 outlines the next steps for implementing postal banking, in which post offices would offer basic financial services – providing affordable banking transactions to every zip code in the US, while strengthening […]
From the USPS Office of Inspector General: The Office of Inspector General for the U.S. Postal Service has released a new white paper exploring a series of potential approaches the Postal Service could take for expanding its financial services offerings. The report is a follow up to a January 2014 white paper on non-bank postal […]
Americans spend $103 billion a year on predatory lenders. Postal banking could change that by Laura Clawson January 22, 2015 – Nearly 17 million American adults live in households where no one has a checking account; more than 50 million more have a checking account, but also have to rely on things like payday lenders […]
01/19/2015 – A coalition of consumer organizations, financial reform groups, faith-based organizations and workers’ representatives – including the APWU and the other postal unions – announced the formation of the Campaign for Postal Banking on Jan. 19. The coalition is calling on the U.S. Postal Service to expand access to affordable financial services through its […]
Earlier this year the USPS Office of Inspector General released a white paper which explored how USPS could “offer a suite of non-bank financial services to help the financially underserved gain more financial stability and stay connected to the emerging digital economy”. The paper examined how the “Postal Service could partner with banks and other […]
POSTAL UNION PREZ TO POSTMASTER: ADIOS: In an exclusive interview with POLITICO, Mark Dimondstein, president of the 200,000 member American Postal Workers Union, calls for the resignation of Postmaster General Patrick Donahoe “and the promotion of a Postmaster who is gonna do right by the people of this country.” Dimondstein says that Donahoe is on […]
Washington, DC – Today, Rep. Richmond (LA-02) introduced a bill that would expand access to basic financial services to millions of Americans and provide a venerable and struggling American institution an opportunity to generate billions of dollars in revenue. “In the New Orleans area alone, 181,000 households do not have access to a full range […]
Though the promising concept of postal banking has frustratingly stalled due to inertia from policymakers, this week things started to move. Rep. Darrell Issa, chairman of the House Oversight Committee, which oversees the Postal Service, previously called postal banking “unacceptable” and a “massive expansion” of government power. But now, the Senate Homeland Security and Government […]
U.S. Mayors vote for postal banking, financial services; “trillion dollar issue,” says BankACT president. DALLAS, TEXAS — At its June 20-23, 2014 annual meeting, the US Conference of Mayors (USCM) adopted a pair of resolutions endorsing postal banking, co-signed by eight mayors from six states. Their goal is to bring $1 trillion of job-creating economic stimulus primarily to low-income […]