News Flash! Sen. Kirsten Gillibrand (D-N.Y.) has just introduced legislation to re-establish postal banking in the U.S. Postal banking allows individuals to have bank accounts at their local post office and would provide an important alternative for people now caught up in the blood sucking system of payday loans.
Postal banks would also mean people without access to banks would have access to banking services since there is a PO is just about every town. Given that a majority of post offices are in zip codes with just one or no banks at all, this would be an incredible service.
It's a win/win for the unbanked and for the postal system.
Read the story here.
Postal banking is an important complement to public banking which provides a way for our tax dollars to work for our communities not Wall Street. In Washington DC a feasibility study for a public bank is underway. Be sure to read more about the Alliance’s public bank campaign here.
Postal banks would also mean people without access to banks would have access to banking services since there is a PO is just about every town. Given that a majority of post offices are in zip codes with just one or no banks at all, this would be an incredible service.
It's a win/win for the unbanked and for the postal system.
Read the story here.
Postal banking is an important complement to public banking which provides a way for our tax dollars to work for our communities not Wall Street. In Washington DC a feasibility study for a public bank is underway. Be sure to read more about the Alliance’s public bank campaign here.
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