Global Financial Health Launch Decision: Send ’Em!
The demand for a global financial health platform that supports meaningful business investment is there. We just need the collaboration to make it happen.
‘Buy now, pay later’ is booming. So are its problems.
If used as intended, "buy now, pay later" can be a cheaper and easier alternative to a credit card.
BNPL connected to overdraft charges, card fees: study
The study showed BNPL services inspired consumers to spend beyond their means, and frequent users displayed larger declines in financial health, according to the study.
As The Nation Nears Full Banking Inclusion, It’s Time To Focus On Financial Health
Good news from the FDIC: Fewer than 5% of American households lack a bank account, down from 8% a decade ago and the lowest level since the agency began tracking it.
The Case for a Global Financial Health Platform
How might a platform resource catalyze private financial sector action on worldwide financial health?
Revolutionizing financial services
After eliminating overdraft fees in 2021, Ally Financial is using its platform to shed light on social inequities.
How Bank of America Supports Financial Well-Being
Low- and moderate-income households face daily financial challenges, which have been intensified by the pandemic and the continued racial wealth gap. Financial institutions like Bank of America can address these barriers to financial health through programs like Community Banking. In this video, Bank of America’s Head of Community Banking and Consumer Governance Christine Channels explains how its unique Consumer Banking program supports underserved communities and small businesses alike on the path to financial well-being – all while creating more value for the institution. Presented by Bank of America
‘It Ruined Everything’: Buy Now, Pay Later Drives Gen Z Into Debt
Digital payment products have become particularly attractive – and risky – for young consumers.
10 common bank fees that are costing you, and expert advice for avoiding them
Banks are not one-size-fits-all. When you’re evaluating where you want to park your money, there are several factors you’ll have to weigh to find the right one for you. One major consideration you’ll need to consider: fees.
Unpacking the CFPB report on BNPL, in 4 charts
Late last year, the CFPB issued orders to five non-bank BNPL lenders, asking for detailed information on the activities and risks inherent to their lending practices. “We have ordered Affirm, Afterpay, Klarna, PayPal, and Zip to submit information so that we can report to the public about industry practices and risks,” said CFPB director Rohit Chopra.
Making Financial Health Part of Our DNA
In this deep dive on the business of financial health, explore how Bank of America is supporting customers through challenging economic times. Find out why and how the organization has woven financial health into the core of their operations, with new policies designed to improve customer outcomes.
‘I Know I Have an Issue’: Does ‘Buy Now, Pay Later’ Convince People to Overspend?
“Buy now, pay later” companies say they’ve created “a fairer and more sustainable alternative” to credit cards. Some users say they also change spending habits for the worse.