Thu. Jun 20th, 2024

Postal Banking Isn’t Done Yet, Even Though It Was Stripped from the Recent Spending Package

March 23, 2022
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Democrats have introduced a new postal banking bill and advocates are still hopeful USPS will expand a small pilot program it launched last year.

Senate Democrats are renewing their call for more banking services at the U.S. Postal Service, looking to push the mailing agency further after it began a pilot program last year.

Sens. Kirsten Gillibrand, D-N.Y., Bernie Sanders, I-Vt., and Jeff Merkley, D-Ore., introduced a postal banking bill (S. 3891) on Tuesday after congressional negotiators kicked language demanding additional financial services at USPS off the fiscal 2022 omnibus funding package President Biden signed into law last week. The new measure would allow the Postal Service to offer low-cost checking and savings accounts, ATMs, mobile banking and low-interest loans.

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