Could the U.S. Postal Service help the nearly 70 million Americans who are cut off in some way from the mainstream financial system? We’re talking about people who, because they lack ready or full access to normal banking services, paid $89 billion in fees and interest to alternative financial service outlets such as payday lenders and check cashers in 2012 alone. They are the financially underserved – also known as the underbanked or unbanked – and many of them are one unexpected expense away from bankruptcy or homelessness.
We didn’t create our blog just to use the catchy name, Pushing the Envelope. We did it to inform and engage stakeholders about our work, particularly our audits and white papers, and the occasional topical issue.
That work, by the way, is rooted in our mission of ensuring efficiency,...Read More