Senators raise concerns over USPS postal banking pilot program
Nineteen Senators wrote to Postmaster General Louis DeJoy Monday raising concerns about the U.S. Postal Service’s pilot banking program. CUNA wrote a letter to House and Senate leaders last month outlining similar concerns.
The current pilot program is located at four post offices on the East Coast
“Despite a stated focus on mail delivery, the U.S. Postal Service has initiated a pilot program to expand consumer financial services to limited check cashing services,” the Senators’ letter reads. “This untested program raises serious questions about whether these activities waste taxpayer resources without any commensurate benefit. We are concerned that the pilot program exceeds the Postal Service’s legal authority and fails to comply with relevant regulations and procedural requirements.”
CUNA raised similar concerns about the program, and also noted that the services provided could easily be obtained at credit unions that generally offer additional service at a lower cost.