Views: Should the U.S. Postal solution expand into financial?

The Postal Service has $188 billion in outstanding debts and long-term liabilities, persistent yearly losings of $9 billion, possesses defaulted on above $45 billion in retiree healthcare and pension benefits since 2011. Yet, it is flirting with scuba diving into sure, watch for it financial.

Americas trusted progressives Sens. Bernie Sanders and Kirsten Gillibrand, and Rep. Alexandria Ocasio-Cortez are pressing quite difficult for postal financial. Through countrys significantly more than 34,000 blog post organizations, they wish to supply sprawling latest national products.

The central argument for postal banking is the fact that scores of People in america were unbanked and abused by payday loan companies and related businesses that charge onerous fees for check cashing as well as other solutions. Unbanked implies not having a checking or bank account at a bank or credit score rating union. Continue Reading