The Unity Task Force created by presumptive Democratic presidential nominee Joe Biden and independent Sen. Bernie Sanders from Vermont called for a “postal banking” system for people who don’t have access to regular banks.
The document, which was released on Wednesday and spans over 100 pages, does not specifically define the term “postal banking” but states that the “government should provide easily accessible service locations, especially postal banking to make it possible for everyone to access physical banking locations.”
Sen. Kirsten Gillibrand of New York, previously a rival for the Democratic nomination, introduced legislation in the prior Congress, the “Postal Banking Act,” that would grant the U.S. Postal Service the power to provide basic financial services, such as check cashing and bill payment services, as well as allow people to open a savings account and apply for small-dollar loans.
It is unclear if what the senator introduced in 2018 is the same as what the Unity Task Force has proposed.
Thetask force was created in May and is focused on unifying the Democratic Party ahead of November’s general election. The group comprises Democrats from differing wings of the party, from New York Rep. Alexandria Ocasio-Cortez to former Secretary of State John Kerry.
The task force focused on six issues: climate change, criminal justice reform, the economy, education, healthcare, and immigration.
