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Elizabeth Warren’s Postal Banking Idea Has Big Public Support, New Poll Finds

February 15, 2014

Emily Swanson : huffington – excerpt

Many Americans say they would support the U.S. Postal Service expanding into basic banking and financial services and would sometimes use those services if they were available, according to a new HuffPost/YouGov poll.

Expanding post office services to include banking was recently explored in a report by the Postal Service inspector general, and is backed by Sen. Elizabeth Warren (D.-Mass.) as a way to bring affordable basic banking services to low-income neighborhoods. Those neighborhoods are often ignored by banks and served only by check cashers and payday lenders that charge high fees.

According to the new poll, 44 percent of Americans said they would favor the Postal Service offering basic financial services like bill-paying, check-cashing and small loans. Thirty-seven percent said they were opposed, and 19 percent said they weren’t sure… (more)

 

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