The nation’s top federal agency charged with protecting consumers from financial crime released a report last week highlighting the rural challenges of the current banking system. The Consumer Financial Protection Bureau (CFPB) report, “Challenges in Rural Banking Access”, found that rural communities are more likely to lack access to physical
Understanding The Payday Loan Laws in Michigan A payday loan is a high-cost, short-term transaction in which a customer borrows money in exchange for a fee. The customer pays the lender a personal check for the amount borrowed plus the service fee. Before presenting the check to the customer’s bank
Money / Financial Planning designer491/Getty Images/iStockphoto When the going gets tough, the tough guys burst into the emergency fund they’ve wisely built up. Ideally, these savings are easy to access and using them won’t break the bank because they serve their exact purpose: to cover you in the event of
Now Credit Union CLEVR Money, the credit union of Preston, Blackpool, Fylde, Wyre and Lancaster, has warned of the financial disaster many could face if they resorted to high interest loans. The warning comes as the Credit Union, a nonprofit with some 5,000 members, reported receiving a growing number of
Bankrate’s latest 2021 emergency savings survey found that 51% of Americans don’t have enough money saved to cover three months of expenses. The same survey found that one in four respondents had no emergency savings, leaving them financially vulnerable in the event of job loss or an unexpected medical bill.