Ranking Members of the House Financial Services and the Oversight and Reform Committees sent a letter to the Postmaster General regarding the USPS paycheck-cashing services pilot program at East Coast locations. Several points are…
- The USPS does not have the authority to expand non-postal services without congressional approval.
- During previous Committee negotiations the USPS never mentioned their intention to expand into banking services.
- The USPS has consistently incurred losses totaling more than $87 billion over the past 14 years.