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[goldenheart]

This message was self-deleted by its author (goldenheart) on Tue May 15, 2018, 03:50 PM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

[DetlefK]

1. If it's such a bad idea, why do so many countries have it?

[sandensea]

2. Could be because their banking lobbyists don't have the run of the country.

We should have listened to FDR.

[DBoon]

4. We used to be one of those countries

Until 1967

https://en.wikipedia.org/wiki/United_States_Postal_Savings_System

[Sancho]

3. Yes, it's a good idea...

[NCTraveler]

5. New Plan Could Bring Banking Into Cleveland Post Offices by Summer

https://www.news5cleveland.com/news/e-team/banking-into-cleveland-post-offices-by-summer

Could US Post Offices Become Banks? Here's How The Plan Would Work

https://www.thedenverchannel.com/newsy/could-us-post-offices-become-banks-heres-how-the-plan-would-work-1

Kirsten Gillibrand Unveils Her Ambitious Plan to Turn the Post Office Into a Bank

https://slate.com/business/2018/04/kirsten-gillibrands-ambitious-postal-banking-bill.html

[pennylane100]

6. Would the accounts be insured under FDIC rules.

[LanternWaste]

7. It was insured by FDIC during its initial run until it was shut down in '67.

It was insured by FDIC during its initial run until it was shut down in '67. In fact, one of the reasons it closed was that prior to the institution of FDIC, the US Postal Bank was one of the few financial institutions backed by the full faith and credit of the US govt., and when FDIC became policy for all banks, the US Postal Bank lost one of its main advantages.

[OnDoutside]

8. Providing banking facilitates is one extra help for post offices, especially

Rural offices, here in Ireland. Anything that helps their viability and the viability of the communities, is good.

[msongs]

9. you think lines are long at post offices now? just wait til this happens nt

[Nay]

10. Yes, it's a good idea, which is why we'll never ever see it done here. nt

[politicaljunkie41910]

11. No. It wasn't a good idea last month when someone asked and it still isn't a good idea.

Last month when the question was asked they were talking about not just banking accounts but providing mortgage loans as well. My reasons against it are listed in the link below. Be careful what you wish for.

https://www.democraticunderground.com/?com=view_post&forum=1002&pid=10537800

[GoneOffShore]

13. So, why do France and England have successful post office banking systems?

And how are you with credit unions?

Asking for a friend.

[politicaljunkie41910]

14. I can't and won't answer about what is right for France and England since I don't live there.

I have no problem with banks or credit unions, but if you read my response, you would know the issues that I outlined as being problematic, so I don't have to repeat them.

[GoneOffShore]

15. I read it and disagree.

[bluecollar2]

12. I had an account at the post office

When I was young and growing up in England.

Still have the old book somewhere.

Last balance was 1£ 3 shillings and 5 1/2 pennies if I remember correctly.

It was a big deal to me at the time. I was so proud making deposits. Some of them as low as 2 shillings at a time..

Yes...a post office bank is an excellent idea.

[politicaljunkie41910]

16. So you don't think you would have been as proud making those deposits at a bank?