According to a New York Times article, nearly 10 percent of Americans do not have bank accounts. These and other underbanked people may be taken advantage of by lenders, check cashing facilities, and pawnbrokers through excessive interest rates and fees. Fortunately, in this country, there are many options for consumers to choose, including prepaid debit cards. What if the Postal Service explored partnering with prepaid debit card providers to sell prepaid debit cards at post offices, just as they are now sold at other retail outlets?
By its very nature, the U.S. Postal Service is a labor-intensive organization. In fact, labor makes up three-quarter of total postal costs — or $57 billion.
Controlling these costs is essential to the long-term viability of the postal system. That’s why our latest...Read More