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.
To learn more about the report, read PYMNTS.com Vice President of Digital Media Jeffrey Green’s account by clicking here.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.