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S. 3891: Postal Banking Act

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S. 3891: Postal Banking Act

117th Congress · introduced 2022-03-22 · Government Operations and Politics · Latest: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2022-03-22 · official record
  2. Who proposed it: Sen. Gillibrand, Kirsten E. [D-NY] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Homeland Security and Governmental Affairs. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Postal Banking Act

Plain summary

Postal Banking Act This bill grants the U.S. Postal Service (USPS) the power to provide basic financial services, including low-cost, small-dollar loans, in specified amounts; small dollar lending servicing, which shall ensure that the customer's access to the products and the public interest is given significant consideration; small checking accounts and interest-bearing savings accounts in specified amounts; transactional and remittance services; and other basic financial services in the public interest. It grants the USPS the power to set interest rates and fees for the financial instruments and products provided by the USPS that meet specified requirements. The USPS (1) shall not be granted a bank charter or become an insured depository institution for the purpose of capital requirements, and (2) shall be subject to the provisions of the Uniform Commercial Code regarding bank deposits and collections. The Federal Reserve Board of Governors shall transfer to the USPS such sums as necessary to carry out the services described in this bill, which shall (1) be sufficient to ensure that the products substantially decrease the number of people who do not have a bank account or use alternative financial products such as payday lending, check cashing, prepaid debt cards, and overdraft fees; and (2) be provided to the USPS through a separate account. The Government Accountability Office shall submit to Congress an annual report that includes the demographics, number of participants, and average balances and uses for such products.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Postal Banking Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Gillibrand, Kirsten E. [D-NY] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Bernard Sanders (I-VT), Jeff Merkley (D-OR)

Sponsor's campaign money: Sen. Gillibrand, Kirsten E. [D-NY] reported raising $3.5 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong117-s3891 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117