2022 FinHealth Spend Report Marks First-Ever Decline in Ten Year History of Tracking Fees and Interest Paid for Everyday Financial Services
Reduction attributed to student loan debt moratorium, pandemic-related decline in credit card debt and government stimulus funds allowing many to avoid high-cost lending; but underserved populations still pay greater proportion of fees and number of factors indicate likely rise in year ahead.
This year’s annual FinHealth Spend Report examines how households in America managed their finances and accessed credit during the second year of the pandemic, analyzing year-over-year trends for more than two dozen financial products and services.
Financial Health Network Releases New Research Finding that Financially Vulnerable Consumers Most Likely to Use and Struggle With Repaying Buy Now, Pay Later Loans
Data also shows overwhelming majority of users understand terms and are successfully using the product.
In this brief, we leverage findings from a nationally representative survey to better understand the buy now, pay later (BNPL) market, the users who are driving it, and the implications for their financial health.
Your current and future customers are seeking your help to improve their financial health. How will your support and guidance lead them to success?
The Financial Health Network teams up with Elevate and Finicity to ensure that the right audience finds and engages with a financial health product.
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 >>
Read this report to discover the four financial health needs that are especially relevant for small business owners and learn which innovators are working to support entrepreneurs’ financial health.
This article written by Los Angeles Times banking and finance reporter James Rufus Koren describes his experience during FinX at EMERGE. Koren recounts what he and other finance professionals learned as they spent a morning in Hollywood experiencing first hand the daily challenges facing the un- and underbanked. Read the article
The Financial Health Network offers its first quality assessment of the payroll card industry.
This one-pager gives examples of applying the Compass Principles to transaction products.
With millions depending on prepaid cards to help manage their financial lives and forthcoming CFPB regulations, it is important to gauge the quality of products in the marketplace and to encourage prepaid card issuers to develop offerings that actively improve consumers’ financial health.