The Riddle of Overdrafting
Much about overdrafting behavior remains a mystery. Given the small amounts and short periods by which overdrafts occur, why aren’t many of them avoidable?
Jo Ann Barefoot Podcast Featuring Jennifer Tescher
Don’t miss CEO and President Jennifer Tescher as she speaks with Jo Ann Barefoot on financial health, research, and more. Listen here>>
The end of the two-week pay cycle: How every day can be payday
Companies like Even, Stripe and Green Dot are changing the speed of pay cycles to help lower- and middle-income earners avoid predatory lenders. Read this article from MarketWatch to learn about these on-demand payment companies. Read the article >>
Financial Solutions Lab Launches Year-Five Competition to Support Workplace Financial Health Tech Solutions as Part of Multiyear, $30 Million Initiative
Competition to focus on fintechs and employers that offer a diverse range of workplace financial wellness programs and solutions for underserved workers 08:00 AM CT NEW YORK–(BUSINESS WIRE)–Today the Financial Solutions Lab (FinLab) at the Financial Health Network with founding Financial Solutions Lab partner JPMorgan Chase & Co. officially launched its Fifth Annual Challenge (Challenge), […]
The Opportunities and Threats of Insurtech for the Average Insurance Consumer
In this article, Theresa Schmall addresses the opportunity for insurance providers to embrace innovative technology that benefits both businesses and customers alike. Read the article >>
The Convenience of Blaming The Other Guy
Could overdrafting and payday borrowing actually compound each other, leading to greater use of both products? We asked the banks to compile some key behavioral statistics before and after the discontinuation of their “deposit advance” programs.
Bringing Underbanked Consumers Out of the Shadows
In this guest blog post, Josh Sledge and Equifax describe characteristics of underbanked and unbanked consumers and how financial institutions can better serve them. Josh tells us, “There’s a real market opportunity for providers to help underserved consumers build savings and credit to increase their resilience to financial shocks.”
How to Adapt to the Growing ‘Risk Shift’
In this article, Sarah Parker discusses insights gained from the Financial Health Network’s research looking at the insurance needs of low- to moderate income Americans. She provides three main takeaways for the insurance industry about how to stay relevant in today’s changing landscape. Read the article >>
The Elephant in the Room
When it comes to “small dollar credit,” overdraft is the elephant in the room. The inexplicability of overdrafting — of why a small group of people seems willing to pay so much for transactions that could be easily avoided — has been the subject of policy debates within our industry for some time.
Student Loan Debt Doesn’t Have to Ruin Your Wild and Precious Life
If you are considering higher education, let me share some of my advice for reducing your overall student loan debt burden.
Saving Money For College Does More Than Pay Tuition #FinHealthMatters
By Lily from The Frugal Gene The Teen Years Saving your own money for college does a lot more than just paying the tuition. Spending your own money teaches you about the value of money, provides a safety net, and gives you a preview of the working world. I’ll tell you my experience of going to…
3 Tips for Managing Student Loans as an Entrepreneur
By John Hammond, StartU Today marks the 3rd annual #FinHealthMatters day; an event started by the Center for Financial Services Innovation to draw attention to the 57% of Americans — approximately 138 million adults — that are struggling financially today. This year’s theme is student health; emphasizing the financial health of college students in America today. At StartU, this…