Why Banking during the Post Office could possibly be a Better Option Than Payday Loans — and Wall Street

Why Banking during the Post Office could possibly be a Better Option Than Payday Loans — and Wall Street New york postoffice. Picture by John Donges. The U.S. post office on Martin Luther King, Jr. Blvd. is a bastion on its Harlem block. Entrenched beside a pawnshop, a business that is cash-for-gold and a commercial bank numerous within the community aren’t able to make use of, the center is basically a fortress. Detailed with hefty brick walls, metal displays, vaults, ATMs, and trucks that are armored the premises evoke one word: protection. If you’ve followed present news, they even recommend an additional term: Bank. Post workplaces are designed like banking institutions. And that’s only one good reason why banking that is postal a hot concept in financial policy debates, is viable. Real and functional structures already occur which could assist USPS provide basic economic solutions: prepaid debit cards, mobile deals, brand brand new check cashing solutions, cost cost savings reports, and also simple, small-dollar loans. “There’s a post workplace every five obstructs in Manhattan — there’s accessibility in most zip rule,” explained Frankie Wright, 32, a USPS Supervisor of Customer Services in East Harlem. […]