WASHINGTON (NEWS10) — Sens. Bernie Sanders of Vermont and Kirsten Gillibrand of New York will hold a Facebook Live event, scheduled for 2:30 p.m. on Thursday, to announce new legislation: the Postal Banking Act.
The event will be a discussion and question and answer session about the specifics of the proposed measures. The senators’ camps say the Act has three prongs:
- Creating $9 billion in revenue for the postal service, saving it from privatization
- Protecting low-income or rural families and communities from predatory lending
- Reestablishing postal banking to provide basic, low-cost financial services to those who cannot access banks