New Postal Bill Could Have an Impact on E-Commerce

A congressman introduced a bill that would allow the United States Postal Service to offer basic financial services, and one aspect of the proposed legislation has the potential to impact e-commerce. Representative Cedric Richmond of Louisiana reintroduced the Providing Opportunities for Savings, Transactions and Lending (POSTAL) Act. The bill would allow US postal customers to open checking accounts, deposit funds in an interest-bearing savings account, and receive small-dollar loans.