Richmond’s historic Saunders Station post office sold, finally

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After trying to dispose of it for over four years, the Postal Service has finally sold the historic 1937 Saunders Station post office at 1625 Broad Street in Richmond, Virginia.  The Postal Service apparently got ahead of itself and began renting space for the new location of the post office back in 2011, when it originally expected to sell the … Read More

Postal Banks Are People’s Banks: 6 Things You Need To Know About Postal Banking

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It’s being called “Bernie’s Brilliant Idea,”, and Bernie Sanders’s embrace of postal banking is indeed brilliant, both in timing and substance. But while his insurgent presidential campaign may give a credible boost to USPS financial services, Sanders’s endorsement is far from sufficient. To make postal banking happen requires a broad, mass coalition willing to keep pushing the issue regardless of the … Read More

Canada Post puts community mailbox program on hold

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Canada Post is putting on hold plans to switch customers from door-to-door mail delivery to community mailboxes as the federal Liberals, who promised to restore the service, are set to take office next week.  The Crown agency issued a short statement on Monday, saying it was “temporarily suspending” the conversion program, and promised to work collaboratively with the federal government to … Read More

Bernie Sanders’s Highly Sensible Plan to Turn Post Offices Into Banks

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In an interview with Fusion’s Felix Salmon the day after last week’s Democratic debate and published Tuesday, Senator Bernie Sanders discussed the marquee features of democratic socialism he’s been tirelessly calling for during his presidential campaign: higher taxes for the wealthiest Americans, an increased minimum wage, and breaking up the biggest Wall Street banks.  Salmon also raised a possibility that has not been … Read More

How the government subsidizes the rich, while we pay the fees

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The United States has two personal banking systems. One of these systems is carefully regulated. It benefits from substantial government subsidies, and it offers extensive protections to consumers.  The other system serves the poor.  “One of the great ironies in American life is that the less money you have, the more you have to pay to use it,” writes Mehrsa … Read More