With almost no banks in their neighborhoods, 68 million Americans don't have checking or savings accounts. Fees to pay-day lenders and other financial predators cost some 10% of their incomes. That's according to the Inspector General of the Postal Service, who says his agency may have a solution. With three fifths of all post offices in ZIP codes with only one bank or no banks at all, the Postal Service is well positioned to provide such financial services. The banking industry doesn't like it.
Could the Post Office Be a Bank for the Poor?
Credits
Guest:
Joshua Brustein - Businessweek -
@joshuabrustein
Host:
Warren Olney
Producers:
Andrea Brody,
Caitlin Shamberg,
Katie Cooper