Retiring Postmaster General Donahoe slams suggestions that Postal Service get into banking

Industrials Associated Press

Retiring Postmaster General Patrick R. Donahoe is scoffing at suggestions that the Postal Service could ease some of its chronic financial woes by branching out and offering basic banking services to its customers.

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He told reporters Tuesday the Postal Service's role is delivery, not financial services.

The banking proposal came from the office of inspector general within the Postal Service itself, and has gained considerable attention.

Donahoe will retire Feb. 1. Megan J. Brennan, now the chief operating officer of the Postal Service, will take over, becoming the first female postmaster general.

Donahoe made a parting plea to Congress to give the service, which receives no tax dollars, more flexibility to deal with looming structural issues.