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.
In the battleground that is last-mile delivery, groceries are the soup du jour. Major players and smaller upstarts are jumping in to test grocery delivery to the consumer’s doorstep. The competition should benefit consumers, if not their waistlines.
One reason for the interest in...Read More