Two other major reasons for payday loan places to exist are identity theft (especially of elderly) and money laundering, and neither will go away because the po

Two other major reasons for payday loan places to exist are identity theft (especially of elderly) and money laundering, and neither will go away because the post office is competing. Several problems exist that haven't been discussed. One is coupling / product tying. If you screw up financially, no other bank or financial player will want to cooperate with you, universal default and all that. Bounce a check there, they won't accept a check over there. So... if you default on a post office loan, that means the P.O. will stop allowing you to send or rx mail, right? I mean, they gotta get leverage somehow. So... if the P.O. is in the loan biz and my letter carrier knows his job exists because people don't do biz with capital one, then physical spam from capital one might not make it into my mailbox, just sayin. Or even worse, old people who still pay bills physically might find that car payments to loaners other than the P.O. might often not be delivered... Another problem is consistency. Nothing sounds dumber on the internet than people all over the planet arguing with each other about which multinational cellphone provider has better or worse radio coverage in their house and by extension the entire world... or their local post office is either great or sucks. Fix that first, of be doomed to endless dumb sounding complaints on the internet. Banks are fairly consistent, at least compared to cellphone coverage or postal service. So your bread and butter main line product is going away because people are switching online both for personal-ish mail and spam. So your bright idea is to enter yet another field where virtually everything is moving online and paperless as fast as possible. Brilliant. Finally I don't see any synergy. If there was a flaming roaring demand to merge postal services with banking services, why doesn't every bank/CU have a UPS/fedex branch office? There seems to be an immense synergy between food stores and banks, its almost like there's a law locally that food stores must have a colocated bank branch. Admittedly very few freestanding bank branches sell bacon and doritos. Still I think it far more likely and realistic to see a bank selling ice cream, beer, and popsicles than a post office selling mortgages.