OIG Report Paints Bright Future for Postal Banking Web News Article #: 110-2015 05/21/2015 – A report by the USPS Office of Inspector General (OIG) released May 21 outlines the next steps for implementing postal banking, in which post offices would offer basic financial services – providing affordable banking transactions to every zip code in…
More than a quarter of households in this country either don’t have a bank account, or have an account but also rely on often expensive alternative financial services like check cashing and payday lending. These underserved households are looking for more affordable options, and the U.S. Postal Service may be able to help. In a…
OTTAWA, June 4, 2014 – A study of banks and payday lending companies in the United States and Canada shows a real need for a postal bank exists, especially in areas where post offices abound but few banks offer their services. The paper, presented at the 22nd Rutgers University Conference on Postal and Delivery Economics,…
