S 4614
Postal Banking Act
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Postal Banking Act would allow the U.S. Postal Service to offer basic financial services to the public, including low-dollar loans, checking accounts, and remittance services. The USPS would not become a bank but would operate under the Uniform Commercial Code and receive funding from the Federal Reserve. This aims to provide access to financial services for underserved communities and reduce reliance on alternative financial products like payday loans.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.