House GOP Demands Info About ‘Secret’ Postal Banking Pilot

Key House Republicans want to know why the U.S. Postal Service “quietly” launched a banking pilot program without consulting with members of Congress.

“As you know, we strongly object to the concept of postal banking, and the Postal Service lacks the statutory authority to expand its non-postal banking services absent Congressional approval,” House Oversight and Reform Committee ranking Republican James Comer of Kentucky and House Financial Services Committee ranking GOP member Patrick McHenry of North Carolina wrote in a letter to Postmaster General Louis DeJoy on Friday.

House Bill Likely to Retain Postal Banking Pilot

A Republican effort to kill a postal banking pilot program contained in the House version of the FY22 Financial Services spending bill failed Monday.

The decision by the House Rules Committee not to allow Republicans to offer that amendment during floor debate of the measure all but guarantees that the $6 million pilot program will be in the House-passed version of the appropriations measure.

Community Bankers Pushing Anti-Credit Union Agenda in Virtual D.C. Conference

The policy agenda being circulated during the Independent Community Bankers of America’s “2021 Capital Summit” contains major anti-credit union rhetoric, including pushing plans to eliminate the credit union tax exemption, getting credit unions covered by the regulations in the Community Reinvestment Act and insisting that the National Credit Union Administration is failing to properly regulate and oversee the industry. Other than that, their policy objectives are very similar to the Credit Union National Association’s and the National Association of Federally-Insured Credit Unions.