1) Post office isn't great at the job it has, delivering mail. 2) I don't trust the govt employees at the PO to be able to handle banking. 3) Just say HELL NO to Socialism & govt control.
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Every other developed country uses postal banking. In fact, the United States had a postal banking system from the 1910s to the 1970s. Giving poor people an extra choice of where they can take out loans isn't "government control".
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In fact, postal banking could be seen as an *alternative* to existing, tough regulations on payday lenders. Rather than the confusing, hard to enforce patchwork of state laws telling lenders by law the interest they can charge, just let them compete with the post office's rate.
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We are NOT every other developed country. You would be adding to the deficit. How many would not be able to pay back loans, then you have to hire ppl to go after those bad loans. Sounds like a bad money practice to me.
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This is literally the reason loans have interest rates: to cover defaults.
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Are you kidding? While covering defaults may be a small part of it, interest rates are for the lender to make money!
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She said "postal banking" meaning, turning the US Postal Service into a payday loan operation!
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Of coarse she will be in charge and stealing everything not nailed down.
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Goverment control. The post office is in the red every year, yet FedEx and UPS (private business) manage a huge profit.pic.twitter.com/7tgMn7nHoA
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Will you be for bailing out the Post Office in a few years after this goes into action and the bad debts rack up?
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After accounting for a $5.8 billion retiree health benefit prefunding obligation, the U.S. Postal Service posted a net loss of approximately $5.6 billion for fiscal year 2016 (October 1, 2015 - September 30, 2016)
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Who's writing these tweets?? Turn the US Post Office into a Cash and Go location??? What the hell are you people thinking?
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Better idea: 3x/week mail delivery, no banking, close 1/3 of operation.
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Hey morons, US had postal banking from 1911-66 & every other rich country currently has it. "Postal banking helped fund two world wars and reduced a massive government deficit after the Great Depression." https://slate.me/1pIILAY
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Thats is what credit unions are for. Whom u have over regulated and caused many to have to merge due to expensive bs you put them through. You have run the ACA so well we would all run and sign up for more government control!!
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Holy crap what did you eat for breakfast, honey bunches of crazy nuts. This would be a total disaster, low income come in get a loan and the middle class pays for it. You want to abolish ICE, open borders, raise taxes. What are the people thinking that voted for you
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