Tying evaluation to the importance of the activity to the bank ignores the fact that many activities constituting a small share of the bank’s business have an outsize importance to the bank’s community.
The seven million foreclosures that occurred between 2004 and 2015 fueled the Great Recession. But the role of adverse public records is just as significant.
Simple rules of thumb, even if they’re not as detailed as other forms of financial education, might help people improve their financial decisionmaking.
Community development financial institutions help bring mainstream finance to underserved communities. As inequality grows, the industry must figure out how to expand its reach.
