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.
The holidays might be over but the package returns season is in high gear. It kicked off in mid-December, shortly after the first wave of holiday deliveries, and is expected to run through most of this month.
Returns track with the online retail market — as shopping online grows, so, too...Read More