Are prepaid debit cards and small-dollar loans the answer to the financial woes at the U.S. Postal Service? Maybe, according to the agency’s watchdog.
The Postal Service inspector general issued a report Monday recommending that the agency expand its financial services to meet the needs of underserved communities. Researchers estimate that the agency could earn $8.9 billion in annual revenue if it captured 10 percent of the interest and fees generated by the 68 million Americans on the fringes of the banking system. Read more.