Alexandria Ocasio-Cortez Takes ‘Public and Postal Banking’ Agenda To Financial Services Committee
Democrat congresswoman Alexandria Ocasio-Cortez of New York has made it into the House Financial Services Committee, bringing another left-wing perspective to the committee chaired by Maxine Waters of California.
Here are Ocasio-Cortez’s stated objectives for her tenure on the committee: “Personally, I’m looking forward to digging into the student loan crisis, examining for-profit prisons/ICE detention, and exploring the development of public & postal banking. To start.”
The Campaign for Postal Banking has been agitating for years. This is how the organization describes their cause:
“Postal Banking is simply the provision of low-cost, consumer-driven financial services via the Postal Service. Products and services could range from check cashing to bill payment to savings accounts to small-dollar loans. Postal Banking will benefit consumers who do not have access to traditional banks as well as those who would prefer a more public option. Every other developed country in the world has postal banking. The expansion of services would also strengthen our public Postal Service.”