US Post Office Becoming a Bank?? WTF???

This sounds really weird to me--- And I don't get the point or reason.

http://www.dailyfinance.com/2015/06/23/post-office-banking/

 

Whenever you visit France, check for the post offices: these are also banks and have been so for tens of years.

 

To add to revenues and provide services to those with lower incomes that the banks don't want to provide services to.

 

In France, more than 97% of the population has at least one account with the post-bank ( in the same vein Americans are surprised about universal
health coverage when this has been available in Europe for 50+ more years).

There is even a scheme where after saving with this bank for 10 years, a special mortgage loan is available.

 

To understand better ( English subtitle)

 

Same as Japan. They've had postal banking for over a century.

 

It looks like Americans are really late on some good stuff.

 

Stupid. Why would I bank with them with all the other choices including online banks? I bank with my insurance company with no fees.

 

We try to allow private industry and capitalism to work first. It does not always work but I have never seem the government do any thing efficiently.

 

60 millions stupid people in EU since 2nd war ended.
and 100 million stupid people in Japan for centuries.
All stupid people banking with their post office.