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FEDERALhearing transcript

Hearing on the Proposed Closure of the Postal Savings System

Original title: Dissolution of the postal savings system: hearing before the Subcommittee on Postal Operations of the Committee on Post Office and Civil Service, House of Representatives, Eighty-ninth Congress, first session, on H.R. 8030 and related bills; bills to provide for the discontinuance of the postal savings system, May 12, 1963.

Record date · July 20, 2026

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What This Bill Does

This document is a transcript of a 1963 Congressional hearing regarding H.R. 8030, a bill intended to officially shut down the United States . The hearing explores the legislative process for discontinuing the government-run savings program.

Why it matters

The hearing marks the legislative effort to terminate the , which allowed citizens to hold interest-bearing savings accounts at local post offices.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Postal Savings System account holders

These individuals would be required to close their accounts or transfer funds due to the system's dissolution.

Directly affected

United States Postal Service

The agency would cease providing banking services and managing savings accounts.

Key Facts

The hearing concerns H.R. 8030 and related bills aimed at the total discontinuance of the Postal Savings System.
The Postal Savings System provided a government-backed savings account service through local post offices.
The hearing was conducted by the Subcommittee on Postal Operations during the 89th Congress, first session.
The primary objective of the proposed legislation is the formal dissolution of the existing postal banking infrastructure.

Frequently Asked Questions

What was the Postal Savings System?

It was a federal program that allowed individuals to deposit money into interest-bearing savings accounts at their local post offices.

What is the purpose of H.R. 8030?

The bill proposes the formal termination and closure of the .

What else do you want to know?

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Full breakdown

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Related Legislation

hearing transcript