Thursday, May 16, 2019

Sanders, AOC Propose Postal Banking

Some bad ideas seem to never die.

Last week, Senator Sanders (I - VT) and Representative Ocasio-Cortez (D - NY) advocated for allowing the U.S. Postal Service to engage in basic banking services.

Sanders and Ocasio-Cortez wrote that the Postal Service should use its existing authority to implement a pilot program offering basic and affordable financial services.

They called on Congress to enact the Postal Service Protection Act that Senator Sanders introduced in 2013

Basic financial services would include basic checking and savings accounts, low interest loans, debit cards, automatic teller machines, check cashing, money wiring services, and online banking services.

But does the post office have the expertise to engage in banking?

This idea should be stamped: Return to Sender.


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3 comments:

  1. AnonymousMay 16, 2019 at 9:13 AM

    If these two idiots ran Apple it's be BK in 1 year. Just what the bankrupt postal service needs another albatross around it's neck so it can lose even more $$, especially with the banking practices these two baboons would enact

    ReplyDelete
  2. A. NonymousMay 16, 2019 at 11:29 AM

    One would think these two politicians who are supposedly "for the people" would recognize they were talking about credit unions but instead default to a government handout program which is exactly what the post office has become. Unbelievable.

    ReplyDelete
  3. AnonymousMay 20, 2019 at 10:24 AM

    Lets see a govt agency that now can act like a bank, process payments, cash checks and be the fiduciary for the american consumer, what could go wrong with that? They can not even stay profitable handing out the mail! Within a year certain parties would take over this new entity and make it their own. God help us!

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