A bill has been introduced in the Congress to create public banks that would be independent of the private corporate banking system that now defines lending rates and, in many ways, the performance of our national economy.
This new bill, introduced by a New York senator, would restore post office banking that faded away 70 years ago and with it loans at lower rates and the convenience in stopping by your local post office when you need a loan or want to make a major purchase.
It may be coming back. Or at least starting to. Here’s the story in the Huffington Post. Click here.