Gillibrand attends Bronx roundtable on expanding banking accessPosted: Updated:
Sen. Kirsten Gillibrand visited the Bronx Friday for a roundtable discussion with the community about banking access in the city.
Gillibrand has proposed legislation called the Postal Banking Act that would establish a retail bank in all of the U.S. Postal Service’s 30,000 locations to address individuals’ financial needs.
"Checking accounts, savings accounts, sending money… it would make a huge difference because they're public servants so they're not gonna be predatory in nature. They’re gonna be safe, they’re gonna be reliable," said Gillibrand. “It’s gonna be an alternative to some of these really horrible, predatory practices in our state and around the country.”
News 12 reached out to the Postal Service, which responded in part that its “mission is to provide the American public with trusted, affordable universal mail service.”
The response also said that the Postal Service’s core function is delivery and not banking.
“To the extent our research concludes that we can legally provide additional services at a profit and without distracting from our core business, we would consider these,” said the statement.