The U. S. Post Office Is Considering Going Into the Banking Business

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Banks have been consistently uninterested in providing financial services to poorer Americans, but others are increasingly jumping at the chance to do so. The latest is the United States Postal Service (pdf), whose inspector general published a paper last week detailing how serving the so-called unbanked with savings accounts and small-scale loans could provide a valuable public service while shoring up the finances of the vulnerable agency…”

Full Story:  http://www.businessweek.com/articles/2014-02-03/would-u-dot-s-dot-post-office-make-a-better-banker-for-the-poor

SOURCE:  Bloomberg Businessweek

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