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US Capitol, from Pixabay
You’ve shown your support for the Postal Banking Act, and now we’re asking you to take it a step further and write your senators.
As you know, postal banking is simply the provision of financial services via the United States Postal Service. By allowing consumers to open a bank account at their post office, Postal Banking could help over 7 million American households that lack access to a checking account or basic financial services.
Sens. Kirsten Gillibrand and Bernie Sanders reintroduced the Postal Banking Act, which 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 Americans. Additionally, the law authorizes the Postal Service to offer small-dollar loans that could eliminate the market for payday loans.
Ask Congress to pass the Postal Banking Act to support not only the USPS, but underserved communities across the country.
Thanks for reading, and for being a part of our movement,
Susan Madrak, Consumers United for Fairness
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