Filling the Gap: The Postal Service and the Financially Underserved

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.

 

Intelligence Delayed, but Not Derailed

It’s back to the future for the requirement that all letter and flat automation mailings be Full-Service Intelligent Mail barcode (IMb) compliant to obtain discounts. Mailers were expecting implementation this week of the Full-Service requirement, but the U.S. Postal Service pushed back the date until 2015 because the Postal Regulatory Commission ruled that the mandate constituted a price increase that would have busted the inflation-based price cap.

 

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Recent Comments

  • 13 hours 30 min ago
    I shipped out a box of my books on June 5th from Oklahoma to Connecticut, about a third of my library. The other two boxes are still waiting to be sent out. The box was supposed to arrive on the 12th...
  • 13 hours 31 min ago
    Hi Elizabeth, Thank you for your message. The OIG is an independent agency of the Postal Service and day-to-day mail delivery issues are outside of our jurisdiction. If you have not already done so,...

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