Consumers are nickeled and dimed
In 2018, financially underserved consumers in the U.S. spent $189 billion in fees and interest on financial products. Overall, their spending across a mix of financial products continued its historical upward trajectory, with a compound annual growth rate of 3.4% since 2015. At T4L, we see it as our mission to develop innovative, high-quality products and services to improve the financial health of underserved consumers.
Financially Underserved Market Size Study- 2019, Financial Health Network, Karen Graham and Elaine Golden, 2019