Real-Time Payments Tracker® – June/July 2021

Real-Time Payments Tracker® – June/July 2021

Underbanked households are often forced to tap predatory lending options when they fall behind on everyday payments, but access to real-time payments can help, says the Brookings Institution’s Aaron Klein. In the latest Real-Time Payments Tracker, Klein discusses how access to faster payment rails can help underbanked consumers settle bills on time and avoid falling into a black hole of late fees and unpaid debts.

Inside the June/July Tracker

  • An interview with Aaron Klein, senior follow of economics at economic think tank the Brookings Institution, about how real-time payments can reduce financial burdens for the underbanked
  • The latest real-time payments developments, including new legislation in California that would create a public banking system with no-fee debit cards and how the proportion of underbanked individuals declined to just 5 percent in 2020
  • A Deep Dive analyzing the challenges underbanked American adults face in finding a bank or credit union and how real-time payments can bridge the financial inclusion gap

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