It’s happened to the best of us. Millions of working Americans frequently find themselves in need of funds between paydays. When faced with financial shortfalls, employees with limited access to traditional credit resort to expensive alternatives, such as pesky overdraft fees. As American employees live a hectic life, it’s understandable to lose track of checking […]
FlexWage Solutions was honored to accept an invitation from the National Economic Council (NEC) to review WageBank as part of the White House Executive Office of the President Financial Inclusion initiatives. The NEC, as well as the US Treasury Department, are exploring financial inclusion, financial empowerment, and financial education solutions for US consumers.Meeting participants from […]
You feel its effects every day but simply consider it a part of doing business. Referred to as the “silent epidemic,” Financial Stress affects 30 million American workers (25% of the workforce), and unless your employees are requesting loans against their 401(k)s or you’re receiving garnishment or bankruptcy notices, it goes largely unnoticed.
Payday lending has existed in some form for over 100 years, but in its current incarnation it’s been around since the early 1990s. A recent Pew Charitable Trust report on Payday Lending in America provides some eye-opening information regarding borrowers and lenders.
More than 90% of Americans are losing sleep over finances and more than 70% are finding it more and more difficult to make ends meet is not important to them. They feel they are in this alone and they have to work harder to dig their way back out. Will you have their back?