Could The Postal Service Become A Bank?

The cash-strapped Postal Service could turn a profit if it became a bank. Outside the United States, postal services get 22 percent of their revenues from personal banking services such as credit cards. But the practice ended decades ago in the U.S. Still, one professor who's studied the USPS financial problems thinks management should consider the idea. Sheldon Garon of Princeton tells Federal News Radio, the Postal Service ought to sell mutual funds and even small loans. But a Postal spokesman said the United States has enough banks already.