2 Susan Burhouse et al., “FDIC National Survey of Unbanked and Underbanked Households,” FDIC, Dec. 20, 2016.
3 Bureau of Consumer Financial Protection, “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” Oct. 5, 2017; Daniel B. Kline, “McDonald’s Is Running Out of Room to Grow. Delivery May Be Next,” USA Today, Jan. 4, 2018; “Frequently Asked Questions,” McDonald’s, accessed July 23, 2018.
4 United States Postal Service Office of Inspector General, “Providing Non-Bank Financial Services for the Underserved,” Jan. 27, 2014, 2.
5 Alexandre Berthaud and Gisela Davico, “Global Panorama on Postal Financial Inclusion,” Universal Postal Union (March 2013).
6 Sheldon Garon, Beyond Our Means: Why America Spends While the World Saves (Princeton: Princeton University Press, 2013), 374.
7 United States Postal Service Office of Inspector General, 13. This white paper suggests that USPS can offer loans with a 28 percent APR, a rate sustainable for the post office and its customers.
8 Mark Pittman and Bob Ivry, “U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit,” Bloomberg, Nov. 24, 2008.
9 This process has been used to administer and adjudicate government actions in the realms of veterans affairs, social security, immigration, patents, and all other areas in which citizens are involved with the government. There is a large body of case law, constitutional law, and administrative law that sets the standards and rules that agency officials must follow in their interactions with citizens. For example, the Supreme Court decided in Mathews v. Eldridge, 424 U.S. 319 (1976) that citizens have a right to due process when their welfare benefits are taken from them. The Administrative Procedure Act (APA) also gives citizens a right to a trial in front of an administrative law judge for most agency decisions affecting their rights. If a citizen wished recourse against the federal government for garnishment of tax returns, such a process would likely be granted.
10 These privacy protections are contained in Title V of the Gramm Leach Bliley Act.
11 Sarah Todd, “An Alternative Lender Whose Credit Reviews Are Academic,” American Banker, July 8, 2014.
12 Federal Deposit Insurance Corporation, “FYI—Payday Lending,” March 4, 2004.
13 Mathiew Despard and Terri Friedline, “Mapping Financial Opportunity,” New America.
14 Rachel Witkowski and Kevin Wack, “Post Office Offering Loans Is ‘Worst Idea Since the Edsel’: Banks,” American Banker, Jan. 27, 2014.
15 David Morrison, “Experts Debate USPS Financial Services,” Credit Union Times, July 16, 2014.
16 Darrell Issa, “Keynote: Financial Services and the Post Office,” Pew Charitable Trusts, July 16, 2014.