The American Bankers Association joined eight other financial trade groups today to oppose an amendment to the FY 2021 financial services and general government appropriations introduced by Reps. Bill Pascrell (D-N.J.) and Marcy Kaptur (D-Ohio) that would enable the U.S. Postal Service to provide banking services.
In a comment letter today, the American Bankers Association urged the Postal Regulatory Commission not to move forward with its decision to replace the consumer price index cap on United States Postal Service pricing with a new system that would effectively allow the USPS to raise postal rates as volume declines.
After Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Bernie Sanders (I-Vt.) today unveiled a bill that—among other things—would cap consumer loan annual percentage rates at 15% nationwide, the American Bankers Association forcefully pushed back with quotes in several media reports.
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.
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.).