Archived Articles

Rep. Cedric Richmond (LA-2) Introduces “POSTAL Act of 2015”

Representative Cedric Richmond (LA- 2) Introduces “POSTAL Act of 2015”

On February 1, 2016 Rep. Cedric Richmond introduced in the House of Representatives H.R. 4422, the “Providing Opportunities for Savings, Transactions, and Lending Act of 2015.” The Bill would allow the US Postal Service to provide basic financial services including 1) small dollar loans, 2) checking accounts, 3) savings accounts, 4) services relating to international money transfers, and 5) other basic financial services as the Postal Service considers appropriate in the public interest.

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David C. Williams Retires

Mr. David C. Williams, Inspector General of the US Postal Service OIG will be retiring on February 19, 2016. Mr. Williams has been the Inspector General since 2003. Deputy Inspector General Tammy Whitcomb will take over as acting IG.

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Moratorium on Closing Small and Rural Post Offices Through September 30, 2016

As reimbursement for the free and reduced rates mandated by Congress, the USPS, through the annual Appropriations Bill, receives money from Congress for “forgone” revenue.  The 2016 Omnibus Appropriations Bill will reimburse the USPS for $55,075,000 in forgone revenue in 2016.  The section of the bill which calls for the payment to the USPS provides…

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Senator Tom Carper Introduces S. 2051 – the Most Recent Proposed Postal Reform Legislation

On September 17, 2015 Senator Tom Carper (D-DE) introduced Senate Bill 2051, named the “Improving Postal Operations, Service and Transparency Act 2015” (iPOST).  The Bill, introduced in the Senate Committee on Homeland Security and Government Affairs, is the most recent Congressional proposal for comprehensive “postal reform” legislation. In addition to tackling such critical financial issues…

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USPS Proposes 2016 Shipping Rate Increases

On Friday, October 16, 2015, the United States Postal Service announced its intention to increase shipping rates, effective January 17, 2016.  The average cost for shipping would rise by 9.5% or approximately $5.50 per shipment.  Priority Mail rates would increase by 9.8%, with prices ranging from $6.80 to $18.75, depending on box size.  Rates for…

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The Concept of Postal Banking Enters the Presidential Race

The provision of banking and similar financial services is not a new concept for the USPS.  Postal savings accounts were available in US post offices from 1910 until 1967, and the US Postal Service still provides money orders.  Postal banking is one of many non-postal services that have been suggested recently as a means of…

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