When the only bank left in town shuts down, rural Americans have a harder time cashing checks and sending money without predatory fees.
The pandemic exacerbated the emergence of ‘banking deserts’ as more and more banks closed the doors of their less profitable branches in rural America.
Postal banking will open financial doors back up for rural towns by allowing folks to open savings accounts at USPS branches.
Plus, it helps save the Postal Service by providing a new, stable source of income.
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