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What is Postal Banking? Allowing post office banking services could benefit low income areas, communities of color

Postal banking would be particularly helpful for people living in rural areas and First Nations communities, few of which have bank branches, and for low-income people in cities, including the close to two million people per year who use payday lenders.

What is Postal Banking? Allowing post office banking services could benefit low income areas, communities of color; 2 Things You Need to Know to Properly Price Your Home; Tips for First-Time Home Buyers; 2 Things You Need to Know to Properly Price Your Home; Mortgage prepays rise on the combination of lower rates, seasonality: kbw; categories. Builder News

Postal Bank Idea Resurfaces, Would Be A Gut Punch To Payday Lenders. A modern version of a post office bank "could benefit the 68 million underserved Americans who either do not have a bank account or rely on expensive services like payday lending and check cashing," said a post office inspector general report issued in May 2015.

This is of particular poignancy for me as I was shuttled around between various rural industrial towns and suburban working class as well as upper middle class communities during. the most.

Post Office Banking: An Old Idea Getting New Life. Italy’s operation made 72% of its income in 2014 from financial services.. particularly in rural areas. When postal banking was first.

Advocates say that postal banking systems would help low-income individuals and communities of color. 2012 data from Pew found that African-Americans are 105 percent highter to use payday loans than

The idea was revived this past April, when Senator Kristen Gillibrand (D-NY) introduced a bill to create a postal bank that would "effectively end predatory payday lending industry practices overnight by giving low-income Americans, particularly communities of color and rural communities, access to basic banking services that they currently.

Bernie Sanders, with his call for postal banking and robust government programs, is the only candidate offering a real plan to revive the postal service and the futures of black public-sector workers. Origins. The story of black workers in the post office begins with the legal end of slavery and the soldiers who fought for that freedom.

Seniors face rent hikes despite rise in independent-living units It also would ignore important issues of supply and unit affordability.. independent longer than previous generations of elderly population; as a.. percent of older households were single persons living alone (of. maximize flexibility and increase housing production and health and service coverage;.

Postal Banking is simply the provision of financial services via the Postal Service. The Campaign for Postal Banking is calling for low-cost, consumer-driven products and services that could range from check cashing to bill payment to savings accounts to small-dollar loans.

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