It has been nearly three years since the postal banking pilot program had a customer. It’s time for Congress to step in and put this program to rest.
The USPS has said there’s nothing to worry about. It argues that the program costs nothing because there have not been any customers. Congress should not take this argument as a reason for relief. It’s time to put this program to rest.
Congress should remove the postal banking loophole by amending the Postal Accountability and Enhancement Act to specifically prohibit the USPS from engaging in new financial services without congressional approval. Otherwise, mission creep at the USPS may become a never-ending story.
