1. United States
2. Nev.
3. Letter

The United States Postal Service is facing significant financial challenges due to declining mail volumes and the rise of digital communications. One potential solution that could help sustain the USPS and provide valuable financial services to underserved communities is postal banking. Offering basic banking services like checking and savings accounts through post offices would allow the USPS to generate new revenue streams while filling a major gap in access to affordable financial services. Approximately 10% of American households are "unbanked," lacking access to basic banking tools like checking accounts. Many of these households resort to high-fee financial services like check cashing and payday loans, which can trap people in cycles of debt and poverty. The Postal Service already has a physical retail presence in many areas that private banks have abandoned, making it well-positioned to offer low-cost banking options to these underserved communities. Furthermore, the USPS Inspector General estimates that consumers spend around $89 billion annually on alternative financial services that a postal bank could provide more affordably. Capturing even a fraction of this market could provide a major boost to the agency's finances without requiring new taxpayer subsidies. For these reasons, I urge you to explore and implement a system of postal banking to improve financial inclusion, sustain this vital public service, and unlock a new revenue stream to secure the Postal Service's future viability in an evolving technological landscape. The USPS already has the infrastructure in place - now it needs the opportunity to use it to its full potential.