I would ike to inform about The status quo
The nonbank alternatives for credit tend to be poor, with high-cost loans dominating the landscape. Twelve million Us Americans utilize pay day loans yearly, and others that are many various kinds of high-cost credit. 1 The FDIC has unearthed that 20 % of all of the US households are underbanked, which means that they use alternate economic solutions along with utilizing banking institutions and credit unions. 2