Over the past decade, millions of American households have turned to prepaid cards to spend, save, and manage their money.

An increasing number of Americans are turning to nontraditional credit sources for quick access to cash.

The United States financially underserved market generated $89 billion in fees and interest in 2012, representing growth of 8% from $82 billion in 2011.

For eight years, the Financial Health Network has championed innovative strategies for meeting the needs of underbanked consumers

The emerging industry of technology startups providing financial services, known as FinTech, has typically targeted a relatively affluent customer base.

Electronic payments are growing by leaps and bounds,overtaking paper as preferred payment mechanisms.

Banks and credit unions can and should be doing much more to support consumer credit building – and, importantly, they can do so in ways that align their own success with the success of their customers.

Banks and credit unions can and should be doing much more to support consumer credit building – and, importantly, they can do so in ways that align their own success with the success of their customers.

Increasingly, underserved Americans are turning to prepaid cards to meet their basic financial services needs.

The Financial Health Network is submitting this letter in response to the request for comment by the Consumer Financial Protection Bureau on May 24, 2012.

The products and services that cater to the needs of financially underserved consumers are big business.