Could the U.S. Postal Service help the nearly 70 million Americans who are cut off in some way from the mainstream financial system? We’re talking about people who, because they lack ready or full access to normal banking services, paid $89 billion in fees and interest to alternative financial service outlets such as payday lenders and check cashers in 2012 alone. They are the financially underserved – also known as the underbanked or unbanked – and many of them are one unexpected expense away from bankruptcy or homelessness.
Whether you live in a bustling city like New York City or Los Angeles, a rural area in the Midwest or Great Plains, or somewhere in between, we all have one thing in common — we’re still using the mail in some way.
Yes, First-Class Mail (FCM) volume has been in decline for several years....Read More