News: Postal Banking

Campaign for Postal Banking

Is Free Checking a Thing of the Past?

05/01/2018 - (This article first appeared in the May-June 2018 issue of The American Postal Worker magazine) 

Bank of America, the country’s second largest bank, ended its popular free e-checking account and is now requiring customers to maintain a minimum balance of $1,500 or a monthly direct deposit of at least $250. Customers who fail to meet those minimums will be charged a $12 monthly fee. 

Campaign for Postal Banking

Bank Closings and Lack of Confidence Point the Way to Postal Banking

11/01/2017 - (This article first appeared in the November-December 2017 issue of the American Postal Worker magazine)

Way back in 1956, an article in the Monthly Business Review made a case for ending the Postal Savings System (see box). “It would seem that the Postal Savings System has outlived any social or economic need it may have once satisfied,” wrote the Cleveland Federal Reserve

Campaign for Postal Banking

Payday Lenders Trapping Senior Citizens

09/01/2017 - (This article first appeared in the Sept-Oct 2017 issue of the American Postal Worker magazine)

Although the payday lending industry slowed in California in 2016, it increased dramatically among senior citizens. For the first time, seniors took out more short term loans than any other age group, according to a study California’s Department of Business Oversight released in July.

Campaign for Postal Banking

Tell the Postmaster General

Provide ATMs in Post Offices

07/01/2017 - (This article first appeared in the July-August 2017 issue of The American Postal Worker magazine)

Every day, people receiving public assistance pay a portion of their benefits in fees to access their own money. It could be Social Security Disability Insurance, Supplemental Security Income, Veterans Affairs benefits, refugee benefits, or one of many state and local programs.

Campaign for Postal Banking

The Market for International Remittances is Hot

Sure Money: Ripe for Expansion

05/01/2017 - (This article first appeared in the May-June 2017 issue of The American Postal Worker magazine.)

The market for international remittances – sending money abroad – is rapidly expanding. Between 2010 and 2014, money transfers worldwide increased between three percent and 11 percent annually, according to the USPS Office of Inspector General (OIG). The United States ranks first worldwide for this service, with 22 percent of the global market.

Campaign for Postal Banking

Consumer Protections Under Attack

03/01/2017 - (This article first appeared in the March-April 2017 issue of The American Postal Worker magazine.)

After the devastating 2008 financial crisis, Congress passed the Dodd-Frank Act that led to creation of the Consumer Financial Protection Bureau (CFPB). The Bureau has had a significant impact protecting consumers and holding big banks accountable. The CFPB recently fined Wells Fargo $100 million for the illegal practice of secretly opening unauthorized customer accounts. Since the Bureau’s inception, it returned nearly $12 billion to consumers who were cheated or misled by payday lenders, pawn shops and other financial predators. It has taken particular aim at companies that target service members and veterans. 

APWU Web News Article 03-2017

APWU Goals for the Upcoming Year

President Dimondstein's installation speech

01/09/2017 - President Dimondstein spoke about the recent victories and future challenges for the American Postal Workers Union during his address at the installation of officers on Nov. 5, 2016. 

  • Click here to watch his full speech
  • Click here to watch a highlight video about the successes of the last three years and the goals for the upcoming term. 

Campaign for Postal Banking

Wells Fargo Scandal: A Labor Issue and One More Argument for Postal Banking

01/01/2017 -

Sen. Elizabeth Warren (D-MA) accused former Wells Fargo CEO John Stumpf 
of “gutless leadership” during a Senate Banking Committee hearing.

(This article first appeared in the January-February 2017 issue of The American Postal Worker magazine.)

The recent Wells Fargo scandal, involving the nation’s third largest bank, revealed more than two million accounts and credit cards were opened largely without the knowledge of its customers. When questioned, Wells Fargo Chair and CEO John Stumpf put the blame on “rogue” employees.