AOC’s Latest Idea: Let The Post Office Also Be A Bank

Also, why is she not wearing a mask?

How many people actually go to the bank these days? How about the USPS office? Closest I get is the mailbox outside it down the road from work. Maybe twice a year. Who thinks it’s a good idea to keep your money in a government controlled account? The can garnish the account directly, and you can bet the terms of service will allow that. They now make even more interest off your money, not all the money that’s been taken from your paychecks, with a possibility of a refund of some of that. They can take your money and invest it willy nilly on basically a promissory note to let you have it back.

She’s not the only idiot pushing this

Last week, U.S. Senators Kirsten Gillibrand (D-NY) and Bernie Sanders (I-VT), and U. S. Representatives Alexandria Ocasio-Cortez (D-NY), Bill Pascrell (D-NJ), and Marcy Kaptur (D-OH) called on Congress to implement postal banking pilot programs in rural and urban communities across the country as part of the Fiscal Year 2022 (FY22) Senate and House Financial Services and General Government Appropriations (FSGG) Appropriations Bill and eventual final conference agreement. The lawmakers also pushed for $6 million in funding for USPS in FY22 to carry out the pilot programs to expand non-bank financial services offerings.

“Called on Congress.” They are a part of Congress. They know they can submit legislation, right? Again. Dems have been pimping this idea for years. It gets more fun

“So many families in my community in The Bronx can’t afford to be banked. So instead, they go into checking cashing places and pay relatively large fees – money that’s desperately needed for food, rent and diapers. Others go the ATM, and sometimes they can only afford to take out $5, but they’re paying $3 in fees. What we are asking the Post Office to do here is very basic – checking cashing, money wiring, and taking out money from an ATM without a penalty – but it’ll make a dramatic difference in so many communities and so many families. It’ll also provide needed revenue to USPS,” said Rep. Ocasio-Cortez.

If you go to the ATM for your bank, you usually have no charge. Will the Post Office have ATMs everywhere? How many of those checks will bounce, leaving tax payers on the hook?

Millions of Americans live in ‘bank deserts’ — regions without immediate access to a brick and mortar bank — and nearly 63 million Americans are considered underbanked. Ninety percent of the zip codes lacking a bank or credit union are in rural areas. However, low income communities of color are also historically underserved by mainstream financial services — approximately 46% of Latino households and 49% of African American households are underbanked.

We have “food deserts”, now we have bank deserts? That’s because fewer and fewer go to banks that often with this whole 21st Century technology. Heck, my closest Bank Of America is a 12 minute drive out in Knightdale. There’s one technically closer, but, takes longer to get there due to stop lights and traffic.

Let’s face it, they want more low income people to be reliant on Government, while propping up the USPS and controlling more of people’s money.

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9 Responses to “AOC’s Latest Idea: Let The Post Office Also Be A Bank”

  1. samoore says:

    You do your banking with BoA?

    Sheesh.

  2. Dana says:

    We go to the Post Orifice quite often, since we can’t get our mail delivered to our home! The closest point to which the Post Orifice will deliver is a big mailbox out on the main road, and where we would have to put it has a large, 35º sloping railroad ballast ground area. We have to maintain a post office box.

    UPS and FedEx will deliver right to our door.

  3. Dana says:

    “Unbanked”? There are local banks within five miles, but we do not choose to use them. PNC Bank, which we do use, is about 22 miles away, but since our accounts are linked with our daughters’ accounts, and have been for a long time, it’s convenient to stay with PNC.

  4. Dana says:

    Ninety percent of the zip codes lacking a bank or credit union are in rural areas.

    Well, it’s true: my zip code does not have a bank. But the next one over, just five miles, does have one. Perhaps, just perhaps, that statistic is a bit misleading?

  5. JGlanton says:

    The only times I use a bank or a post office are when I’m rich. Rich and white and privileged. Or maybe I took big risks and made some good choices. Only when I get some big payment event, like a quarterly windfall, do I ever actually have to go to the bank to deposit a check. Then, and only then, do I have to go to a post office to give my ex-wife her share because she had a vagina and gets free stuff.
    So I don’t see how anybody can be “underbanked”, when a bank is almost completely and online service these days. Why would anybody ever even go in person? To deposit cash from stripper tips or drug deals? No, if I had cash its not going to a bank, its going into a BTM.

  6. Joseph T Major says:

    In other words, she wants to revive the Postal Savings System. It was founded in 1911, and was popular for a while, but eventually ordinary banks were able to handle savings. When it was disestablished in 1966, there was $50 million in unclaimed deposits.

  7. Hairy says:

    Teach just doesn’t get it that not everyone in the usa is just like him, or even wants to be like him
    About 15 million Americans are still using dial up
    Even more do not can not use the internet

    People living in rural areas that Teach deems to think are the real Americans live very different lives from Teach

    Things like banks and internet are some of the reasons why people, especially younger people, are leaving rural areas
    Whenever I go to the post office there are always lines of people

  8. Professor Hale says:

    This is a great idea. But why stop there? The Bank-USPS could also skip the middle steps and just deliver envelopes full of money to each house in their delivery areas. And deliver healthy food choices too, chosen by a USPS nutritionist. And delivery of education to these “education deserts” with educators going door to door passing out free government approved lessons. And a USPS nurse practitioner can go door to door delivering health care. And let’s not forget the needs of the “unprostituted” areas in “prostitute deserts”. The USPS can deliver government selected sex workers to each home too. Why there are just no limits to the good ideas that can be attached to this wagon.

    • Kye says:

      I like the sex worker idea. We could call them “Male Calls”. Oh no, too patriarchal.

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