More than 39 million American adults incurred at least one fee for overdrawing their bank account or having insufficient funds in the past 12 months, according to an analysis of survey data by The Pew Charitable Trusts. Most of these consumers, known as overdrafters, view bank overdraft programs as a way to ensure that payments…
Payday loans are unsecured short-term small dollar loans that, in general, are very expensive. They are usually repaid on the borrower’s next payday, and are more expensive than loans from banks, credit unions, and other traditional financial institutions. Click here to download the full PDF report.
The economy may be growing and the stock market may be on a tear, but for many workers such broad measures of financial gains aren’t translating to their wallets and sense of financial security. This year, only about a third of U.S. employees, or 35%, reported feeling satisfied with their financial situation, a drop from…