Two Lawmakers Come Out Swinging Against Postal Banking Pilot Program
On Friday, two Republican members of the U.S. House of Representatives sent a letter to USPS Postmaster General Louis Dejoy to raise their concerns about the postal banking pilot project, which launched quietly last month.
House Oversight and Government Reform Committee Ranking Member James Comer (R-Ky.) and House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) said that Dejoy “has neglected to share information about this pilot program” during his testimony before their committees or to Congress.
The USPS began a check-cashing pilot program on Sept. 13 at four urban post offices.
In their letter to Dejoy, the lawmakers wrote, “During the lengthy negotiations, you never once raised the Postal Service’s intention to expand into banking services. The Postal Service’s 60-page reform plan, called ‘Delivering for America: Our Vision and Ten-Year Plan to Achieve Financial Sustainability and Service Excellence,’ similarly omits any reference to postal banking. Again, on February 24, 2021, when you testified before the Committee at a hearing entitled ‘Legislative Proposals to Put the Postal Service on Sustainable Financial Footing,’ you never mentioned the prospect that the Postal Service might veer into the financial services industry.”