Wealth Builders International careers

Payday loan statistics:
40% of Americans struggle to come up with $400 for an unexpected expense.
Average payday loan borrowers earn about $30,000 per year, with about 58% having trouble meeting their monthly expenses.
The average payday loan has $520 in fees for borrowing $375 initially. The average fee a payday lender charges is $55 per a two week loan. The average payday loan requires a payment of $430 from the next paycheck, equating to 36% of a borrower’s gross pay.
The average pay day loan interest rate is 400%.
According to the St Louis Federal Reserve 12 million Americans use payday loans each year.
According to the FDIC, the majority of unbanked and underbanked consumers are categorized as low income and minority with little education. The unbanked also often accounts for a high number of immigrants in the U.S.
Here are some FDIC statistics:
1 in 5 unbanked households earn less than $30,000 annually
1 in 5 African-American households are unbanked
1 in 3 African-American households are underbanked
1 in 6 Hispanic households are unbanked
3 in 10 Hispanic households are underbanked
1 in 6 households headed by a working-age disabled adult were unbanked
3 in 4 teens between ages 15-17 were unbanked
5 in 10 adults between ages 18-20 were unbanked
Median Wealth Of Black And Latino Families Could Hit Zero By The Middle Of The Century
“By 2020, median black and Latino households stand to lose nearly 18% and 12% of the wealth they held in 2013 respectively, while median white household wealth increases by 3%,” the report states. “At that point – just three years from now – white households are projected to own 86 times more wealth than black households, and 68 times more wealth than Latino households.”
The report was published by the Guardian which states the digital economy and Artificial Intelligence the main cause of major job losses in retail, call center and service jobs.