LIFE IN THE FINANCIAL SHADOWS
Not everyone has access to opportunities to save and build credit. This makes it particularly hard for low-income communities to get ahead. These hardworking families can’t get car loans or own homes. They turn to payday lenders and cash cashing businesses. These fringe services trap people in a cycle of debt, holding them back from their dreams.

INVISIBLE
Many low-income consumers are invisible to banks and other financial institutions. They have little or no credit history and often don’t have bank accounts. As a result, these consumers struggle to get affordable bank loans and build savings for the future.At least 45 million people don’t have a credit history.
16 million adults don’t have access to a bank account.
STUCK
Shut out by traditional banks, consumers turn to fringe financial services like check cashers and payday and auto-title lenders. High-interest rates and hidden fees trap consumers in a cycle of debt, making it even harder to make ends meet.1 in 4 families uses alternative financial services like check cashers and payday lenders.
Nearly half of payday borrowers take out over 10 loans in a single year.

