How Financial Institutions Can Structure Small-Dollar Credit for Financial Health

Recent regulatory developments have opened opportunities for lenders – particularly banks – to offer small-dollar credit. Data shows that investing in customers’ financial health results in greater long-term loyalty and profitability. In this brief for financial institutions and other lenders, the Financial Health Network offers a series of recommendations for supporting the short and long-term financial wellness of small-dollar credit customers.

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The Hidden Costs of Bill Pay Report

Provided by doxo, this research exposes the $577 in hidden costs the average American household pays per year, as well as Americans' top concerns about managing and paying their bills.

Financial Health Can Be So… Retro

Some of the most popular financial health tools introduced by fintechs actually replicate and automate habits and “life hacks” that many households used successfully before the era of electronic banking and payments. These digital “retronovations” bode well for banks and credit unions seeking to offer services that help their customers while also bringing subscription revenues that lessen institutions’ dependence on penalty fees.

The Need is There: Secured Credit Cards as a Credit-Building Tool

By Laura Cummings, Director, Financial Health Network Amazon’s new Credit Builder secured card has ignited debate and dialogue about access to credit and the role secured cards can play in helping or harming consumers. We often hear about the millions of Americans who are deep in credit card debt, which points to the downside of…

Retronovation #3: Installments to Tame Credit Card Debt

By Corey Stone, Entrepreneur in Residence, Financial Health Network  The Sears Catalog was the Amazon of its time, containing just about everything one might want. In its heyday, large ticket items came with a monthly price and term for those who needed or wanted to pay for their purchases over time. Beginning in 1892, the…