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.
If you are a regular visitor to our blog or any part of our website, you are probably familiar with our mission: to ensure efficiency, accountability, and integrity in the U.S. Postal Service. Our work also helps to maintain confidence in the postal system and to improve the Postal Service’s...Read More