Intriguing proposal from Kirsten Gillibrand, turn Post Offices into banks
This would help people get payday loans at great rates, eliminating the need for the legalized loan shark business that is payday lending. It also has the added benefit of raising money for the post office which, as we've all been made aware recently, is losing money.
On the surface, it seems like a good idea. I'd be curious to see the fine print on this, but at first glance it seems solid. I also like that Democrats are coming up with creative solutions to solving problems as opposed to simply claiming the payday lending industry is unfair.
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Link: https://www.huffingtonpost.com/entry/kirsten-gillibrand-postal-banking-bill_us_5
Posted: 04/25/2018 at 1:17PM