Breaking Barriers: Expanding Access to Capital for Small Businesses
Small- and medium-sized businesses are the backbone of our economy, yet many entrepreneurs struggle to access capital – particularly those from underrepresented communities. Join us as we explore the current capital provider ecosystem, ways to equitably assess creditworthiness, and strategies to expand capital access and bolster financial health for entrepreneurs.
“Buy now, pay later” plans can rack up steep interest charges. Here’s what shoppers should know.
Although U.S. consumers have embraced "buy now, pay later" loans in part because of marketing claims that they offer zero-percent financing, shoppers should be on their guard. Some BNPL products charge exorbitant interest rates, along with heavy fees when you miss a payment, according to Consumer Reports.
New Buy Now, Pay Later Loans Come With More Risks
Companies like Affirm, Klarna, PayPal, and Sezzle that offer interest-free pay-in-four loans also provide longer-term loans that can have high interest rates, confusing consumers.
Start Today, Succeed Tomorrow: Seizing the Moment for FinancialHealth
Join fellow Members for a preview of findings from the Financial Health Pulse® 2023 U.S. Trends Report, a panel discussion of hot topics in financial health, and an early look at Member benefits coming in 2024.
Building Trust in Banks
In America, closing gaps in financial inclusion means overcoming confidence barriers as well as access barriers. Hear industry experts as they share new insights on financial inclusion and solutions for connecting underserved communities with trustworthy services that build financial health.
Uniting for FinHealth: Building a Future of Equitable Systems
As we approach our 20 years of the movement, we reflect on the immense strides we have made thus far. However, the challenges we face are greater than any individual, team, company, or industry can solve alone. Come explore novel avenues of collaboration and the construction of equitable systems that cater to the requirements of those facing financial adversity.
New du Pont venture capital fund will back start-ups targeting low- and moderate-income customers
Ben du Pont talked about his firm's partnership with Discover, tech start-ups in the region, and research coming out of Longwood Gardens.
Banking news roundup
Discover Bank launches financial health fund, Cross River Bank climbs past real-time payment transaction benchmark, Webster funds financial education at youth-focused nonprofits and more in this week's banking news roundup.
Discover Debuts $36 Million Fund for Startups Focused on Financial Health
Discover Bank has launched a fund to support startups working to improve people’s financial health. The $36 million Discover Financial Health Improvement Fund will back companies aiming to help low- and moderate-income people, communities and small businesses in the mid-Atlantic region, according to a Tuesday (June 13) press release.
Discover Launches $36 million Fund Aimed to Improve Financial Health in Delaware
Discover Bank has launched a new mission-driven investment fund, the Discover Financial Health Improvement Fund, to support startups and early stage technology companies who are developing solutions to improve the financial health of low- and moderate-income people, communities, and small businesses. Discover Bank has made an initial capital commitment of $36 million.
Despite Reforms, Overdraft Fees Are Still Plaguing Low-Income Americans
Overdraft and non-sufficient funds fees are disproportionately plaguing low-income households, with some Americans overdrawing their bank accounts 10 or more times a year.
The overdraft landscape is in transition
One of my biggest pet peeves in all of finance is the overdraft fee. I first wrote in 2019 that we were moving to a world of no overdraft fees. This was before major banks changed anything in response to the fintech push for no overdraft fees.