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Gillibrand proposes Postal Service offer banking

Apr 29, 2020 12:30 pm
Emilie Munson is reporting for the Times Union Congress is now debating how to help the U.S. Postal Service, while President Donald Trump repeatedly slams the agency for its financial losses. Sen. Kirsten Gillibrand April 28, proposed the Postal Service be allowed to offer banking at its 30,000 locations nationwide to improve its financial health and allow more Americans access to banks, as well. “The U.S. Postal Service may not survive the summer," Gillibrand said. In the Postal Banking Act, the New York Democrat proposes establishing a retail bank at all USPS locations, which she said "would create approximately $9 billion in revenue for the Postal Service" and provide banking service to low-income and rural Americans. “The Postal Service is in desperate need of reinforcement, and providing postal banking for the nearly 10 million American households who lack access to basic banking services is the first step," Gillibrand said. "The Postal Banking Act would not only revitalize the agency, but it would also strengthen our voting rights." As a result of the pandemic, mail volume nationwide is down by about one-third compared to this time last year. At the same time Americans are relying on mail service to receive goods, correspondence and to vote. Read the full story in the Times Union.
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