Unimpressed with USPS banking trial, backers consider new initiative
Anthony and congressional Republicans also took issue with how the Postal Service launched its check-cashing test. By limiting it to gift cards, the USPS circumvented a 2006 ban (PL 109-435) on offering new non-postal products without regulatory approval.
“While I understand the desire of the folks at the USPS to jump into space, and I understand the concern many have for financial inclusion efforts, I just don’t think that’s the right way to go. proceed,” Anthony said. . “One of the worst things that could happen is if they had something that actually helped, and then had to shut it down because it wasn’t set up the right way.”
Rep. James R. Comer, R-Ky., a ranking Republican on the House Oversight and Reform Committee, and Rep. Patrick T. McHenry, RN.C., a ranking Republican on the House Financial Services Committee. the House, wrote to Postmaster General Louis DeJoy in October opposing the pilot.
Sen. Patrick J. Toomey, R-Pa., a ranking Republican on the Senate Banking Committee, and 18 other Republican senators also wrote to DeJoy in November asking for more information about the pilot, saying he could come out of the “statutory limits”.
“They have earned the right to try”
Rep. Mark Amodei, a member of the House Appropriations Committee, is perhaps one of the few to applaud the USPS check cashing pilot. The Nevada Republican supports expansion into financial services, but is reluctant to spend taxpayer dollars to do so.