Postal banking is a solution, but to which problem?
By John Heltman
With the USPS emerging as an election-year flashpoint, postal banking is an idea that could gain steam. But a number of proposals are out there, and they have wildly varying implications for financial inclusion.
American Banker Bankshot podcast features Karen Petrou’s comments on postal banking, a critical retail-finance strategic question. Karen says that postal banking could be a major boon to speeding government payments given the slow pace of Fed action, pointing out that using a government entity to handle government benefits is an appropriate use of the USPS’s nationwide infrastructure.