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This means that in one fell swoop, expanding financial services offerings at post offices could both solve USPS’s chronic budget deficit and prevent millions of Americans from being overcharged for basic banking services.
No longer would the “unbanked” be stuck paying high monthly service fees to maintain a bank checking account with a too-low balance, or even higher costs for small loans from a payday lender. These low-margin activities, too unprofitable for many banks to bother with them, could be offered at the post office instead. As a side benefit, these folks would then have thousands of extra dollars a year to spend on things they actually want to spend their money on, helping to grow the economy.
The Postal Service Wants You to Bank at Your Post Office – DailyFinance.
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