A bank at the Post Office? Sen. Gillibrand says a new program could address inequalities
NEW YORK STATE (WRGB) — New York Senator Kirsten Gillibrand is calling on Congress to implement a new pilot program that could allow you to get a checking or savings account right at your local post office.
The Democrat says nearly 63 million Americans, both in rural and urban areas, live in “bank deserts.”
She says these Americans can find themselves taken advantage of by predatory lenders, who charge high fees and interest rates.
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Gillibrand feels that having the post office double as a bank would solve both these problems, saying,
“This pilot program will not only help us begin to address systematic inequality in the financial system, but it will also create much needed source of revenue for the US Postal Service.”
Gillibrand says, according to a report by the USPS Inspector General, this proposal would create 9 billion dollars in revenue for the postal service each year.
