How Post Office Banking Could Help the Unbanked Without Congress
Late last month, postal banking progressed from policy circle rumblings to proposed legislation. Rep. Cedric Richmond (D-LA) sponsored the Providing Opportunities for Savings, Transactions, and Lending (POSTAL) Act on July 23rd. This legislation would empower your local post office to provide both checking and savings accounts, offer small-dollar loans and prepaid “postal cards,” distribute money…