USPS to Play the Part of Robin Hood?
The POSTAL Act of 2014 was introduced in July and would allow the US Postal Service to participate in several financial services. The white paper explains that 59% of post offices are in areas with one or no bank branches. The intention to render services to the under-served is not anticipated to create competition with banks, but rather to take a slice of pie from non-bank services such as payday lending. [8/8/14]