Tuesday, July 22, 2014
New Banking Services Aimed At Low-Income Customers
To serve the needs of low-income customers, Bank of America and JPMorgan Chase are among U.S. financial institutions introducing new products, and to expose the high costs of living without a bank account, American Express has sponsored a 40-minute documentary.
A new banking account from Bank of America is intended to prevent troubled customers from running up fees for overdrawing their balances. JPMorgan Chase has developed a low-cost prepaid card that comes with many features of a traditional bank account.
The documentary,“Spent: Looking for Change,” runs almost 40 minutes and can be watched free online....