A new report from the CFPB, “Consumer use of of payday, auto title and pawn loans,” underlines the magnitude of this issue. Nine percent of unbanked consumers are habitual users of high interest, high fee loans.
Credit union profitability is sliding downward. One consultant, Megan Cummins at Fiserv-owned Raddon Performance Analytics, insists that the fix is to nurture a sales culture within them.
The recent Harris Poll numbers are a splash of icy water on our faces: three in five Americans believe identity theft will likely cause them financial loss in the next year.
Just when you thought ATMs had to be going down for the count—and, honestly, who didn’t think that as the pandemic took hold?—the rumbling is loud that ATMs are emerging as a low cost branch replacement option.