The U.S. Postal Service should not move into “postal banking” with new financial services offerings, according to a report issued today by a Treasury Department task force focused on postal reform.

In a letter today to members of the House of Representatives, the American Bankers Association and three other financial trade groups urged support for Congressman Patrick McHenry’s (R-N.C.) amendment to the Financial Services and General Government appropriations bill that would prohibit the U.S. Postal Service from providing banking services. The bill — along with its amendments — is scheduled to be ...

ABA and the Financial Services Roundtable wrote to leaders of the House Committee on Oversight and Government Reform today to express support for the Postal Service Reform Act of 2016, a bipartisan bill introduced by Committee Chairman Jason Chaffetz (R-Utah) and Ranking Member Elijah Cummings (D-Md.).