Millions Use Bank Overdrafts as Credit

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…

The 2017 United Way ALICE Report

The updated United Way ALICE Report continues to shine a spotlight on a large population of residents who work, yet have little or no savings, and are one emergency from falling into poverty. The population identified in the report as ALICE (Asset Limited, Income Constrained, Employed) is comprised of people who work, earn more than…

The Secret Shame of Middle-Class Americans

FROM THE ATLANTIC – Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them. SINCE 2013, THE FEDERAL RESERVE BOARD has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth- shattering:…