They are 30 million consumers, representing a quarter of US households, who earn a collective $1.3 trillion a year. But banks donâ??t want to serve them, because they lose money. And the nonfinancial institutions who do serve them may not be offering them much value in the long term.
Welcome to the world of the unbanked and underbanked, who in a weird twist may have fewer banking options after Congress passed legislation aimed at protecting them from high bank fees.
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