The U.S. Postal Service should not pursue expanding into postal banking or other new sectors, the Treasury Department’s task force on the postal system said. In its report, the task force established by President Trump noted that the USPS has narrow expertise and capital limitations and should not take on added balance sheet risks.
ICBA has consistently opposed postal banking and called on the task force to recommend prohibiting an expansion of banking services at USPS. In an American Banker op-ed earlier this year, ICBA President and CEO Rebeca Romero Rainey wrote that financial services are best provided in a competitive marketplace.
Called on the Task Force
American Banker op-ed