Nov 22, 2023 | Credit
By Sophia Acevedo, CEPF When you open a bank account, financial institutions require several forms of identification to verify your identity. Many banks and credit unions will ask for at least a government-issued ID, social security number, and home address. Some...
Aug 30, 2023 | Credit
By Aleenah Ansari It can be challenging to have open and honest conversations about money, especially for people of color, who may be deterred from talking about money or building wealth. Growing up, I was taught to be grateful for having food on the table and having...
Mar 22, 2023 | Credit
By Rebecca Lake Access to banking can help people establish good financial habits and avoid the high fees often associated with alternative financial services. While opening a bank account may seem simple, people who do not speak English and those who are new to...
Jun 15, 2022 | Credit
By Laurén Robbins To Financial services leaders discuss 3 ways traditional banks can team up with fintechs to drive equity for historically marginalized communities. The realities of America’s wealth gap are sobering and persistent. A 2021 survey by the Federal...
Jan 12, 2022 | Credit
By Luz Urrutia Shortly after graduating college, I applied for a $500 credit card from my employer (a major bank) and was turned down because as an immigrant, I lacked a credit history. Years later, I was a co-founder of a mission-driven, for-profit community bank in...
Aug 11, 2021 | Credit
When you are immigrating to the United States, it is natural to want to land on strong financial footing. However, all immigrants face a common barrier: a lack of US credit history. This can impede your ability to get approved for a credit card, apply for a mortgage,...