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Nobody really wants to bank in the postoffice – maybe not also postal credit unions

A present report from the Trump management tossing chilled water in the concept of postal banking posseses an not likely backer – the National Council of Postal Credit Unions.

The Trump management Tuesday circulated a written report on reforming the U.S. Postal provider, also it echoed arguments that are many banking sector has made up against the concept – specifically your USPS is ill-equipped to control the potential risks included.

“Given the USPS’s expertise that is narrow money limits, expanding into sectors where in actuality the USPS doesn’t have a relative benefit or where stability sheet danger might arise, such as for instance postal banking, should not be pursued, ” the report states.

“Any brand new competition into the economic industry is really a risk to postal credit unions, ” stated Becca Cuddy, NCPCU board chair and CEO of Signature Federal Credit Union (previously referred to as NAPUS FCU).