Lawmakers: USPS financial services pilot program still unlawful
Republican lawmakers ask the U.S. Postal Service to stop the extension of a financial services pilot program that they claim has violated statutory restrictions since its inception.
Browsing: Postal reform
ABA Expresses Support for Amendment Clarifying Postal Banking Not Authorized
The American Bankers Association wrote to Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) today to express support for the Postal Service Reform Act of 2022, a bill that would clarify that the postal service is not authorized to provide banking services.
GOP Lawmakers Call Out USPS’ Expansion of Financial Products
A group of Republican lawmakers led by Rep. Blaine Luetkemeyer (R-Mo.) today expressed concern about a recent attempt by the U.S. Postal Service to circumvent a statutorily required product approval process and expand its financial services offerings.
Sen. Boozman Criticizes ‘Misguided’ Postal Banking Pilot
Attempts by the U.S. Postal Service to expand its offerings to include financial services at a time when improvements to its existing services are needed is “irresponsible,” Sen. John Boozman (R-Ark.) wrote in an op-ed published in The Hill this week.
GOP Senators: USPS May Lack Legal Authority for Financial Services Pilot
A group of Republican senators led by Sen. John Boozman (R-Ark.) today raised concerns about a recent effort by the U.S. Postal Service to launch a pilot program offering expanded financial services—including check-cashing services—at certain locations in four U.S. cities.
U.S. Postal Service Launches Financial Services Pilot Program in Select Cities
The U.S. Postal Service last month quietly launched a pilot program in four U.S. cities offering expanded financial services at certain post office locations in Washington D.C., Baltimore, Falls Church, Virginia, and the Bronx, New York.
Podcast: Highlights from the 2021 ABA Washington Summit
In this episode, podcast co-hosts Evan Sparks and Monica C. Meinert review highlights from the ABA’s just-concluded virtual Washington Summit. If you missed the Summit, tune in for insight and analysis on the past few days, and if you watched the virtual event, revisit all the highlights in just 20 minutes.
Financial Trades Oppose Postal Banking Amendment
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.
ABA Opposes Proposed Changes to Postal Pricing System
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.
ABA Pushes Back on Ocasio-Cortez, Sanders Cap on Consumer Loan Rates
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.