A new report released by the Employee Benefits Research Institute [EBRI] noble “Understanding the financial differences between rural and urban Americans,” found that people who lived in rural areas were more likely to have lower incomes and assets than people who lived in urban areas. However, when comparing Americans atRead More →

A payment processing company that allegedly helped a bogus discount club scheme debit tens of millions of dollars from consumers without authorization will be ordered to pay $2.3 million and face a permanent ban from working with high-risk customers as a result of a lawsuit. of the Federal Trade Commission.Read More →

By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation The benefits of financial inclusion are well known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying and spending money end up spending a significantly higher percentage of their income on expensive cash-basedRead More →

Even amid the current pandemic, consumers report satisfaction with their financial service providers and few have changed these relationships. But beneath the calm surface are signs of persistent struggles with financial well-being and broader changes in payment habits. Consumers continue to turn to alternative financial services and buy now, payRead More →

Here’s a breakdown of payday loan demographics by parental status. Parents are more likely to get payday loans than non-parents. parental status Percentage of having used a payday loan not father 5% Dad 8% Payday loans in the United States Payday loan rates and terms can vary significantly by state.Read More →

What is a payday loan? Payday we lend They are typically short-term unsecured loans characterized by high interest rates that typically don’t require a credit check. While there is no exact, universal definition for the term, the US Consumer Financial Protection Bureau says that this type of loan is generallyRead More →

Phuthi Mahanyele-Dabengwa, CEO of Naspers in South Africa. Naspers, through its R1.4 billion early-stage technology investment vehicle Naspers Foundry, announced an investment of R15 million ($1 million) in Floatpays, an on-demand earned wage access platform that helps clients develop financial well-being. Floatpays gives customers real-time access to a portion ofRead More →

By DAVID EGGERT Associated Press DELTA TOWNSHIP, Mich. (AP) — Election campaigns to expand voting options, restrict payday loans and reform Michigan’s citizen initiative process passed steps before the state board of elections Friday, allowing organizers to begin collecting hundreds of thousands of signatures to qualify for the 2022 ballot.Read More →

OPED by Vaishali Basu Sharma Since the Covid-19 pandemic, China has been trying to present itself as a reliable partner for economic recovery. But like Chinese vaccines that have raised questions about their effectiveness, the country’s partnership in economic recovery involves waste, fraud and political manipulation. In addition, Beijing hasRead More →

The CFPB is expected to reconsider Trump-era guidance that exempted some earned wage access products from federal lending laws, as states consider their own protective measures for the fast-growing industry. Consumer advocates have been pushing for the Consumer Financial Protection Bureau to rescind a November 2020 advisory opinion that statesRead More →

While most high school students won’t have to worry about filing taxes this year, the Turlock Unified School District offers financial literacy courses to give them the tools they’ll need for years to come. “TUSD students have the opportunity to learn about financial literacy in various high school level courses,Read More →