Postal Banking Would Help Millions, Fund the Postal Service

Public Citizen Supports Postal Banking Bill From Sanders, Gillibrand

WASHINGTON, D.C. – U.S. Sens. Bernie Sanders (I-Vt.) and Kirsten Gillibrand (D-N.Y.) today introduced the Postal Banking Act of 2020, which would expand the services provided by the U.S. Postal Service to include banking options like checking and savings accounts, small dollar loans, bill payment, and low-fee ATMs. Susan Harley, managing director of Public Citizen’s Congress Watch division, released the following statement in support of the bill:

“Instead of wrecking a beloved American institution that is enshrined in our Constitution and is crucial to our democracy, we should be strengthening the Postal Service with postal banking. At a time when the Trump administration and his postmaster general are focused on dismantling the Postal Service, privatizing it and handing it over to greedy corporations, it’s fantastic to see Sanders and Gillibrand taking the opposite approach.

“Now more than ever, millions of Americans struggling to make ends meet could use a public-focused, low-fee banking option. Furthermore, postal banking would provide much-needed revenue for the cash-strapped Postal Service. It’s the perfect time to take a page from our nation’s history and reinstate postal banking.”