Los Angeles, December 31, 2015: Advocates push for the U.S. Postal Service to offer basic banking
“Now, in the wake of another financial crisis, there’s a new push for the U.S. Postal Service to deliver basic banking services again. The effort is led by consumer advocates, financial reform groups, postal labor unions and some leading liberals, such as Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) and Sen. Elizabeth Warren (D-Mass.). They say that offering services such as paycheck cashing, bill payment and free ATMs would provide cash-strapped consumers with an affordable alternative to payday, auto-title and other short-term loans that have been criticized for high fees.”