We have that in germany.
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We once had it here, too. And it worked.http://www.slate.com/articles/news_and_politics/history/2014/08/postal_banking_already_worked_in_the_usa_and_it_will_work_again.html …
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But the PO's is closing branches.
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Disregarding anything else good or bad about this proposal, the USPS would make plenty of money from loaning deposits out to other banks, which would be used to keep the branches open
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Too bad Al Franken is not around to support you. Oh, wait! That’s because of your poor judgment!
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Thanks for suggesting another Govt. backed money pit for the tax payers. The U.S. Postal Service lost $2.7 billion in 2017. Perhaps Congress should donate 75% of their personal pay back to their districts to assist low income households.
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More big govt in your life. No way
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Post offices are in every neighborhood already. It would provide revenue for the PO while at the same time providing a service. Most developed nations already have it and even the US had postal banking until the mid 20th century. It's an elegant solution to a problem.
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Wait, that was $2.7 BILLION, with a "B", sorry for the misquote.
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You're wrong. No other business in America has to put future liability on their balance sheet. It was (and is) a Republican ploy to undermine faith in what is a wildly popular service and one of the few explicitly outlined in the Constitution.
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Europe had done this for decades. This could help people who rely on payday loans and check cashing stores keep more of their $.
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it won't change anything, if they do not have the money to put into checking and savings accounts. nor do i believe, in increasing the size of any government arm is the best way to go about this. we, need less socialism not more.
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I wonder if they will need an ID to open a checking account?
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Postal banking has long been a success in Europe. Why are we always behind the curve?
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Yeah, Europe, that's a great model. How many of those countries needed to be bailed out for insolvency?
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Uh, you mean countries like Germany, France, UK, Belgium, Italy? And what would “insolvency” have to do with postal banking? Just asking, as someone with 3 decades residence in Europe.
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Really? You can't connect the dots? Insolvency and a gov't run banking system? The U.S. gov't can't even be trusted with SS, healthcare and a number of other programs. All of which are not functions of the federal gov't.
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