Banks, credit unions, policy makers, and consumer advocates have looked for ways to help households access safe financial products and services that will help them manage their money, pay their bills, develop solid credit ratings, and build assets. That market opportunity is ripe, and so, too, is the opportunity for the types of abusive practices and missteps that cost lower- and moderate-income working families precious resources.
Press Release
“Hidden or unexpected fees” were the number one reason Greater Los Angeles' working poor closed bank accounts, according to a survey by the Safe Banking Opportunities Project.
Full Story
Media Coverage
On PBS' Bill Moyers Journal, Safe Banking Opportunities project director Matt Fellowes spoke about financial products and services utilized by lower-income consumers.
Full Story"Hidden or unexpected fees” were cited as the number one reason Greater Los Angeles’ working poor, those who are employed yet remain in relative poverty, closed bank accounts in the past year, surpassing job loss or lack of money, according to a survey of predominately Hispanic, low-income households.
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