With the rising cost of housing and the stagnation of wages, many low-income workers depend on payday loans to make ends meet — at an average annualized interest rate of 390 percent. Now, a Democratic senator has proposed an alternative: low-cost banking through the postal system. It’s an idea that can be implemented without any great administrative difficulties, policy-design challenges or start-up costs, and will benefit not only low-income workers, but also the U.S. Postal Service itself. And there is little reason why it should not have bipartisan support. This is a great example of a policy change that addresses a huge problem for the poor, and it’s legislation we’ll all want to follow. To read all about it, click here.