|How Banks and Startups are Reaching the Poorest Americans
For those who earn the least, managing one’s finances can be prohibitively expensive.
The lowest income Americans — those who earn less than $31,000 a year — make up 20 percent of the U.S. population. Yet, for many, access to financial services is a luxury. Recent research has shown that many Americans without bank accounts feel they don’t have money to warrant an account or that the fees are too high.
It’s a customer segment major bank brands still have challenges reaching, analysts say.
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This article was published on Digiday.com. A full link to the original piece is after the story.
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