On October 4, three days after the U.S. Postal Service implemented degraded standards for first-class mail, ensuring delivery will be slower than in the 1970s, it announced it was getting into a new business: check cashing. The experimental service is taking place in four cities. Meanwhile, America’s leading progressives – Sens. Bernie Sanders and Kirsten Gillibrand, along with Rep. Alexandria Ocasio-Cortez – are pushing quite hard for full-fledged postal banking. The proposal will not benefit the poor and will detract from the Postal Service’s historic mission to deliver the mail. Lexington Institute’s Paul Steidler discusses this in an Op-Ed here.
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