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The Boston Globe


Elizabeth Warren sees promise in Postal Service as lender

Says alternative to payday loan industry needed

WASHINGTON — Senator Elizabeth Warren, as a financial industry watchdog, wants to crack down on sky-high interest rates and other potentially unfair practices of the payday loan industry. But as a self-described champion of lower-income families, she also sees a need for small, short-term loans for people who otherwise can’t get credit.

So Warren has seized on a novel idea: Transform the US Postal Service into a lender.

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