The Consumer Financial Protection Bureau’s “Project Catalyst” team invited FlexWage Solutions CEO Frank Dombroski, one of a select group of entrepreneurs with innovations, to its kickoff event in Northern California last week. Project Catalyst, an initiative to support consumer-friendly innovation in the public marketplace, is the CFPB’s answer to developing better policy decisions by gathering entrepreneurs, innovators, consumer trends, and emerging technology.
FlexWage Solutions announced today two key milestone achievements in the adoption of its FlexWage payroll card and WageBank alternative to check cashing stores, payday lending, and predatory lenders.
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?
Fenton, Mo., June 25, 2012 – InteliSpend Prepaid Solutions, LLC and FlexWage Solutions LLC (FlexWage) announced a new partnership incorporating FlexWage’s payroll card and unique WageBank solution, a benefit that enables employees to responsibly access earned wages in advance of scheduled payday. Intelispend will be rolling out the product and service to its employee base and incorporating them into its suite of product offerings to clients.