Biden task force backs ‘postal banking’ system as experts balk

The Unity Task Force created by presumptive Democratic presidential nominee Joe Biden has called for a “postal banking” system for people who don’t have access to regular banks, while experts and government reports pan the idea.

“I do not think it is the solution to improving the reach of financial services in our country,” said Carrie Hunt, executive vice president of government affairs and general counsel for the National Association of Federally Insured Credit Unions.