Many workers are caught in a cycle of debt. Real-time payroll deposits would help them avoid high-interest payday loans and connect to banking services.
The fundamental structure of Americas banking system has remained virtually unchanged since the 1950s. Yet one simple update could open the door to people who have been locked out of basic banking services for far too long.
Millions of Americans today get paid twice a month, often on the first and 15th. But why? That made sense when payroll was entered manually and checks were cut by hand. The reality is that digital fina…
Read the full article at: https://www.usatoday.com/story/opinion/2018/10/22/real-time-payroll-deposits-help-strapped-workers-avoid-debt-column/1687604002/