POLL: Do you support post offices doubling as banks?
New York Democrat Rep. Alexandria Ocasio-Cortez and Sen. Bernie Sanders announced a proposal to convert post offices into functioning banks and institutions of financial services. The two Democratic Socialists believe the idea of postal banking will help do the following:
- Provide relief to low-income Americans.
- Allow low-interest loans, checking and savings accounts, debit cards, check cashing, bill payment, ATM services, online banking services and electronic money transfers.
- Prevent Americans from falling victim to lending malpractices.
The Treasury Department is against the proposal, claiming the USPS has limited expertise in handling financial operations and the transition would be risky. The USPS office has also publicly commented on similar proposals before, stating their goal is delivering, not banking.
Do you support the idea for post offices to double as banks?
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