AOC’s Latest Idea: Let The Post Office Also Be A Bank

Also, why is she not wearing a mask?

.@RepAOC on postal banking: “What we’re asking for is pretty simple. When you go to the bank to mail what you need to mail, to buy stamps, to take a photo or file for your passport, that you’re just able to do a few more things.” pic.twitter.com/ORxWjNTWhw

— The Hill (@thehill) April 17, 2021

How many people actually go to the bank these days? How about the USPS office? Closest I get is the mailbox outside it down the road from work. Maybe twice a year. Who thinks it’s a good idea to keep your money in a government controlled account? The can garnish the account directly, and you can bet the terms of service will allow that. They now make even more interest off your money, not all the money that’s been taken from your paychecks, with a possibility of a refund of some of that. They can take your money and invest it willy nilly on basically a promissory note to let you have it back.

She’s not the only idiot pushing this

Last week, U.S. Senators Kirsten Gillibrand (D-NY) and Bernie Sanders (I-VT), and U. S. Representatives Alexandria Ocasio-Cortez (D-NY), Bill Pascrell (D-NJ), and Marcy Kaptur (D-OH) called on Congress to implement postal banking pilot programs in rural and urban communities across the country as part of the Fiscal Year 2022 (FY22) Senate and House Financial Services and General Government Appropriations (FSGG) Appropriations Bill and eventual final conference agreement. The lawmakers also pushed for $6 million in funding for USPS in FY22 to carry out the pilot programs to expand non-bank financial services offerings.

“Called on Congress.” They are a part of Congress. They know they can submit legislation, right? Again. Dems have been pimping this idea for years. It gets more fun

“So many families in my community in The Bronx can’t afford to be banked. So instead, they go into checking cashing places and pay relatively large fees – money that’s desperately needed for food, rent and diapers. Others go the ATM, and sometimes they can only afford to take out $5, but they’re paying $3 in fees. What we are asking the Post Office to do here is very basic – checking cashing, money wiring, and taking out money from an ATM without a penalty – but it’ll make a dramatic difference in so many communities and so many families. It’ll also provide needed revenue to USPS,” said Rep. Ocasio-Cortez.

If you go to the ATM for your bank, you usually have no charge. Will the Post Office have ATMs everywhere? How many of those checks will bounce, leaving tax payers on the hook?

Millions of Americans live in ‘bank deserts’ — regions without immediate access to a brick and mortar bank — and nearly 63 million Americans are considered underbanked. Ninety percent of the zip codes lacking a bank or credit union are in rural areas. However, low income communities of color are also historically underserved by mainstream financial services — approximately 46% of Latino households and 49% of African American households are underbanked.

We have “food deserts”, now we have bank deserts? That’s because fewer and fewer go to banks that often with this whole 21st Century technology. Heck, my closest Bank Of America is a 12 minute drive out in Knightdale. There’s one technically closer, but, takes longer to get there due to stop lights and traffic.

Let’s face it, they want more low income people to be reliant on Government, while propping up the USPS and controlling more of people’s money.