To Retain Workers, Consider Paying Them More Often
You can test out a more frequent payroll schedule or offer on-demand access to earned wages as an employee benefit.
New FDIC economic inclusion plan melds inclusion and community development
The Federal Deposit Insurance Corp. released a revised economic inclusion strategic plan Thursday, aiming to advance people's personal financial stability by encouraging lending in underserved communities.
‘Not all fintech is good for people’: Jennifer Tescher
Only a third of Americans are financially healthy, according to Tescher, who founded the Financial Health Network.
Roughly Half of Americans Are Using This Strategy to Fight Inflation. Should You?
Consumers have been feeling the brunt of inflation since it started surging in mid-2021. The Federal Reserve has been trying to combat inflation by raising interest rates. And while that's helped, living costs are still elevated as of early 2024.
Driving Impact on Financial Health and Inclusion of Individuals and Businesses
Join UNEP FI for the launch of the newest guidance from the Principles for Responsible Banking (PRB) titled, "Driving Impact on Financial Health and Inclusion of Individuals and Businesses: From Setting Targets to Implementation".
UNEP FI launches newest guidance on Financial Health and Inclusion for banks
The United Nations Environment Programme Finance Initiative (UNEP FI) has unveiled its latest initiative aimed at advancing the Principles for Responsible Banking (PRB).
How Companies Can Help Employees Save for Emergencies
Under a new federal law, employers can help some workers guard against financial distress. But setting up these rainy day funds can get a bit tricky.
Employers Can Now Enroll Workers in Some Emergency Savings Accounts
But many companies are spurning the "clunky" legal requirements for accounts linked to retirement plans.
Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year
The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the penalties.
Doom Spending Is Not Self-Care
The obstacles Gen Z and millennial women face are real. Marketers’ claims that buying more stuff will soothe them is not.
Earned wage access and advances on pay are very different products
The risk of harm to users' financial health is much greater with direct-to-consumer advances than it is from earned wage access programs, write Jennifer Tescher and David Silberman.
Better emergency savings tools for better financial health
I keep thinking about this column from Alex Johnson last month around financial health and savings. To me, one of the biggest disappointments around the past decade of fintech innovation is how little we are moving the needle for the financial health of consumers.