The Postal Bank

Kirsten Gillibrand is proposing legislation to spur the creation of a Postal Bank, which would offer banking services in all of the US Postal Service's locations. The idea is to provide low-cost banking services to people who are "unbanked," bring banks to neighborhoods without them, and provide competition to payday lenders.

(The postal bank idea has been in circulation for a long time -- there's even a campaign for it -- and many countries have the banks.)

[Gillibrand office] [HuffPo]

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