http://www.businessinsider.com/warren-wants-to-turn-post-offices-into-banks-2014-2
Massachusetts Senator Elizabeth Warren wants to solve two American problems with one solution — turn the country's increasingly empty post offices into simple retail banks for low-income citizens without bank accounts.
In an op-ed in the Huffington Post, Warren writes that "about 68 million Americans — more than a quarter of all households — are underserved by the banking system. Collectively, these households spent about $89 billion in 2012 on interest and fees for non-bank financial services like payday loans and check cashing, which works out to an average of $2,412 per household."
That means poor Americans spend roughly 10% of their income on basic banking services, according to a recent report from the Office of the Inspector General.
Meanwhile, we've got an entire infrastructure of post offices and postal employees who are seeing the number of letters and packages they deliver dwindle more and more by the day.
Read more:
http://www.businessinsider.com/warren-wants-to-turn-post-offices-into-banks-2014-2#ixzz2sMKhJC00
= new reply since forum marked as read