By David Dayen, The American Prospect
[The phrase ‘postal banking’ might not get your pulse racing, but it matters more than you might think. We’ve gone through decades of privatization and dismantling of government services. Governments at every level have often chosen to restrict public services (such as the Post Office) to foster corporate solutions that might be worse, cost more, or not be available to some people. The reintroduction of postal banking is a visible sign that we might be turning a corner. This would be good for the unionized employees of USPS, good for consumers who wish our mail system would be as good as it once was, and good for defenders of the commons as a better alternative to corporate owned and run services. — Progressive Hub]
The United States Postal Service (USPS) has taken the most dramatic step in a half-century to re-establish a postal banking system in America. In four pilot cities, customers can now cash payroll or business checks of up to $500 at post office locations, and have the money put onto a single-use gift card. It’s the most far-reaching executive action that the Biden administration has taken since Inauguration Day.
The move puts the USPS in direct competition with the multibillion-dollar check-cashing industry, which operates storefronts to allow unbanked or underbanked residents to cash their paychecks.
According to USPS spokesperson Tatiana Roy, the pilot launched on September 13 in four locations: Washington, D.C.; Falls Church, Virginia; Baltimore; and the Bronx, New York. To test the system, Prospect art director Jandos Rothstein visited a post office in Falls Church on Saturday and successfully cashed a business check onto a Visa gift card.
Recent Posts
Bernie Sanders Vs. Howard Schultz: Longtime Starbucks CEO Grilled On Company’s Union-Busting Tactics
March 30, 2023
Take Action Now Bernie Sanders grilled the former Starbucks CEO Howard Schultz about the company’s illegal anti-union practices by Amy…
Tragedy In Ciudad Juárez Highlights Dangers Faced By Migrants
March 30, 2023
Take Action Now The tragic event shines a light on the multitude of dangers facing the hundreds of thousands of migrants who set off on perilous…
How Abortion Bans Are Impacting Pregnant Patients Across The Country
March 30, 2023
Take Action Now Leading legal scholar Mary Ziegler and Tennessee OB-GYN Dr. Nikki Zite talk to ProPublica about ominous trends and threats to…
The Biden Budget Does Some Good But Could Do More If It Cut The Pentagon
March 30, 2023
Take Action Now It’s clear that keeping the status quo on Pentagon spending means needlessly keeping millions mired in poverty By Lindsay…