Post office considering financial services

As if lines at the post office weren’t already slow:

The U.S. Postal Service is considering adding new financial products, including its own reloadable prepaid card and small loans, as a way to generate traffic and revenues as mail volumes decline, according to a report from the agency’s inspector general. It would mean competition for the payday loan industry.

What do you think of the post office adding financial services?ImagePaul J. Richards / AFP / Getty Images


2 thoughts on “Post office considering financial services

  1. Aren’t the Post Office-type services in places like Switzerland kinda like this already?

    Also…I don’t know how the “unbanked” would feel about this. Money orders? Check cashing? I guess so…

    • Hi Dave: I’m a well-oiled machine on Twitter but need to be more diligent on this blog, LinkedIn & Google Plus. You are correct! If you click on the “report” link in this post, you’ll find references to other countries, including in footnotes on pages 1 and 22. Thanks for your question. You’re a more worldly traveler than I am.

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