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What is Postal Banking? Allowing post office banking services could benefit low income areas, communities of color

Free Delivery, Parcel Post, Postal Savings, Air Mail, or even the. In 1896, selected communities began to receive the serv-. duced in the face of commercial banks' opposition in 1911. affordable costs – the Postal Service is “broken,” and can only. while low-income areas and rural regions would be least attrac-.

The idea was revived this past April, when Senator Kristen Gillibrand (D-NY) introduced a bill to create a postal bank that would "effectively end predatory payday lending industry practices overnight by giving low-income Americans, particularly communities of color and rural communities, access to basic banking services that they currently.

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Postal banking could generate income to allow Canada Post to provide increased services, such as the restoration of home delivery to the communities that demand it and count on that service. Communities like my own have also been deeply affected by the insensitivity of corporate banks to their needs.

Introducing the amendment on the House floor, Pascrell emphasized the reason for bipartisan agreement for expanded postal financial services: "Ninety percent of zip codes lacking a bank or credit union are in rural areas. Bank branches are also sparse in low income urban areas.

Homes are our ATMs. Let them dispense funds for elderly care These elder services may range from in-home health care to community centers where seniors can gather for meal services. elderly transportation services and adult care services are also often made available. community services may offer basic services to many elderly residents, but the depth and type of services will depend on the community.

Advocates say that postal banking systems would help low-income individuals and communities of color. 2012 data from Pew found that African-Americans are 105 percent highter to use payday loans than

One solution could come from your friendly neighborhood post office. What if you could get a low-interest loan there, rather than an extortionate payday loan from a for-profit payday loan company? Postal banking used to be widespread. Now it could be coming back.

The time is ripe to implement postal banking. What is needed is a rising rumble from the people focused on postmaster general megan brennanwho has the authority to act now on implementing surcharge free ATMS, payroll check cashing, bill-paying services and electronic money transfers and on Congress to allow loans and other new services.

12: Financial Services in Regions of Brazil-Role of Correspondents (2002).. Correspondent banking is not new; post office savings banks, commonplace in many. tries may be able to benefit from such correspondent arrangements.. specially adapted for the low income segments, using measures outlined in the new.

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