With increasingly few exceptions, the ranks of the unbanked seem to be on the decline, according to new data released by the FDIC. The percentage of Americans going without banking services fell to 7 percent in 2015, from 7.7 percent in 2013. According to FDIC...
Hip-hop entrepreneur Russell Simmons rolled out RushCard about a decade ago; a year ago the pre-paid card product was swarmed by bad press after a technical glitch left customers unable to access their funds. Now RushCard is on the comeback tour — a walk back paved...
Millennials are buying fewer houses than their Baby-Boomer counterparts – that is inarguable by the data. Across age groups, the U.S. homeownership rate has fallen to a 50 year low – 62.9 percent – and that dip is mostly powered by millennial homebuyers who aren’t buying. Among...
The federal government is increasing their oversight of several thousand schools nationwide to ensure compliance and also catch fraudsters in the act.
According to new data from the New York Federal Reserve, credit card debt is enjoying a resurgence even among those with low credit scores. In Q2 alone, household debt climbed by $35 billion to $12.3 trillion, according to the NY Fed’s last quarterly report on...
Shipping containers are large enough to be more than a means to get products from Point A to Point B. It turns out they can also be retrofitted to serve as banks. That’s what First National Bank of South Africa is doing. According to a...
Digital banking trends and advancing technology can imply that the unbanked or the underbanked are a diminishing group in U.S. society, but figures show that the underbanked comprise almost a quarter of the population. Unfortunately, this group is likely to be low income, to have...
According to new reports, the amount of U.S. credit card (and other types of revolving debt) has exploded to $18 billion in just the last three months – triggering concerns among experts that Americans are getting a little too debt-happy when the U.S. could be...
A recent report by The Economist reveals that many Chinese citizens largely believe the super wealthy have a distinct advantage over everyone else. This, in turn, could be one of the reasons why China’s emerging middle class – the country’s 530k Global Citizens – are...