A mailbox.
(Image credit: Illustrated | iStock)

Last month, the U.S. Postal Service began offering check-cashing services at locations in metro Washington, Baltimore, and the Bronx. Although it's just a pilot in a few markets, the program is a baby step toward the reestablishment of postal banking, which USPS discontinued in 1967.

Progressives have long seen postal banking as a way to bring millions of people without bank accounts into the regular financial system. Because they have bad credit, trouble maintaining a minimum balance, or lack a fixed address, these customers rely on non-bank establishments like check-cashing stores and payday lenders. Due to their high fees and interest rates, such operations were targeted for regulation when the Consumer Financial Protection Bureau was established in 2011.

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Samuel Goldman

Samuel Goldman is a national correspondent at TheWeek.com. He is also an associate professor of political science at George Washington University, where he is executive director of the John L. Loeb, Jr. Institute for Religious Freedom and director of the Politics & Values Program. He received his Ph.D. from Harvard and was a postdoctoral fellow in Religion, Ethics, & Politics at Princeton University. His books include God's Country: Christian Zionism in America (University of Pennsylvania Press, 2018) and After Nationalism (University of Pennsylvania Press, 2021). In addition to academic research, Goldman's writing has appeared in The New York Times, The Wall Street Journal, and many other publications.