Banking on the Postal Service
Sen. Bernie Sanders has fought cuts in service by the U.S. Postal Service. He’s also sponsored legislation to let the Postal Service find innovative new ways to shore up its finances. A new report from the Postal Service suggests one way the agency could make as much as $8.9 billion in annual revenue would be to offer limited banking services like cashing checks and selling pre-paid debit cards. The USPS already takes in more than $100 million in revenue each year by selling postal money orders. “One of the areas we should be looking at is banking,” Sanders told Ed Schultz in a radio interview on Wednesday.
