3.0.0 2755 2023-01-11T13:39:39Z 2023-01-11T13:39:39Z Senate S 2018-04-25 115 ssga00 Homeland Security and Governmental Affairs Committee Senate Standing Referred to 2018-04-25T19:55:02Z Postal Banking Act 115 5816 HR 2018-05-15 Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS POSTAL Act of 2017 115 3617 HR 2017-07-28 Referred to the House Committee on Oversight and Government Reform. Related bill CRS 2018-04-25 ssga00 Homeland Security and Governmental Affairs Committee Senate Read twice and referred to the Committee on Homeland Security and Governmental Affairs. IntroReferral 2018-04-25 Introduced in Senate IntroReferral 10000 9 Library of Congress G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. N Government Operations and Politics Bank accounts, deposits, capital Financial services and investments Interest, dividends, interest rates Postal service U.S. Postal Service Government Operations and Politics 00 2018-04-25 Introduced in Senate 2019-02-25T21:49:22Z Postal Banking Act

This bill grants the U.S. Postal Service (USPS) the power to provide basic financial services, including:

  • low-cost, small-dollar loans, in specified amounts;
  • small checking accounts and interest-bearing savings accounts in specified amounts, alone or in partnership with depository institutions and federal credit unions;
  • transactional and remittance services; and
  • other basic financial services in the public interest.

It grants the USPS the power to: (1) set interest rates and fees for the financial instruments and products provided by the USPS that meet specified requirements, and (2) allow capitalization of an amount deemed necessary by the USPS to finance the services provided by this bill.

The USPS: (1) shall not be granted a bank charter, become an insured depository institution, or engage in traditional banking activities such as lending; and (2) shall be subject to the provisions of the Uniform Commercial Code regarding bank deposits and collections.

]]> Postal Banking Act Display Title Postal Banking Act Official Title as Introduced A bill to amend title 39, United States Code, to provide that the United States Postal Service may provide certain basic financial services, and for other purposes. Introduced in Senate IS Short Titles as Introduced Postal Banking Act Introduced in Senate 2018-04-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2755is/xml/BILLS-115s2755is.xml 2018-04-25 Read twice and referred to the Committee on Homeland Security and Governmental Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.