May 06, 2014

NAFCU watching postal reform mark-up

May 7, 2014 – NAFCU lobbyists are following today's House Oversight and Government Reform Committee mark-up of a draft postal reform bill proposed by panel Chairman Darrell Issa, R-Calif.

The measure, based in part on President Obama's budget proposal, reportedly would make permanent a temporary increase in the price of stamps and other postal rates and could open the door to the Postal Service rolling back Saturday delivery.

NAFCU has been monitoring the postal reform debate, concerned about the impact higher rates and fewer delivery days could have on credit union operations.

Earlier this year, the Postal Service's inspector general issued a report that proposed expanding the services of the post office to provide non-bank financial services to the underserved. While that proposal has generated debate on the Hill and concern from NAFCU, it is not expected to be included in the postal reform effort at this time.