U.S. Sen. Elizabeth Warren (D-Mass.) has voiced support for a new public-banking program to be administered by the U.S. Postal Service (USPS).
“If the Postal Service offered basic banking services — nothing fancy, just basic bill paying, check cashing and small dollar loans — then it could provide affordable financial services for underserved families and, at the same time, shore up its own financial footing,” Warren said in a recent statement, according to Firedoglake.
Warren cited a recent report from Postal Service’s Office of the Inspector General that stated the service could offer assistance to underbanked consumers in the United States.
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