Online Bank Accounts

The Massachusetts Senator and consumer advocate firebrand may not be running for president. But her backing of the U.S. Postal Service's plan to begin offering budget-priced banking services to U.S. savers could remake the American landscape regardless.

An Idea Whose Time Has Come?

In May, USPS admitted to losing $1.5 billion in its most recent fiscal quarter. If the losses keep up at this rate, the Post Office's budget deficit could surpass last year's $5.5 billion loss, and swell into a $6 billion annual deficit. Last month, though, the USPS Office of Inspector General refloated an idea to close the Post Office's budget gap. Simply put, the Post Office should turn itself into a bank.