Postal News Roundup
Salon: “We Know Exactly Who Today’s Dream Killers Are”: Why Postal Banking Is So Needed — And on the Rise
Postal banking — allowing the post office to serve over 67 million Americans with little or no access to financial services, providing low-cost alternatives that would both promote financial inclusion and shore up the finances of the nation’s second-largest employer — has enjoyed a bit of institutional support, from Senator Elizabeth Warren to the Postal Service’s own Inspector General. But it hasn’t had the benefit of an activist movement pushing for it, until now.
Yesterday, fifteen consumer, progressive and labor groups inaugurated the Campaign for Postal Banking, demanding the creation of a “public option” for affordable financial services for unbanked and underbanked Americans…. In contract negotiations slated to begin February 19, the APWU plans to demand postal banking as part of a menu of revenue-raising options. “Our position is to expand and enhance postal services, not undermine them and degrade them,” APWU president Mark Dimondstein says. “Financial services will be on the table, it’s a significant area where we will have a conversation with the Postal Service management.” While seeking service changes is somewhat unusual in a labor contract, in this case, Dimondstein believes it connects directly to wages and hours for postal employees. The campaign denounces the high cost of what they call “legal loan sharks” like payday lenders and check-cashing stores