Detroiters Without Bank Accounts Are Paying the Price For poor residents who can’t afford the fees or don’t trust banks, not having a bank account can actually cost them money. The pandemic has only exacerbated the challenges for unbanked families. Susan Tompor, The Detroit News | April 12, 2021 | Analysis
(TNS) Roughly 8.8 percent of households in metro Detroit haven t taken what financial experts call the first step toward economic inclusion.
They don t have bank accounts. And it s costing them big money to cash checks and borrow money outside the traditional banking system.
Need to cash your stimulus check? Call a local party store or check cashing store in metro Detroit and it could cost you around $60 to $100 just to cash a $1,400 stimulus check at some spots.
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RoundPoint Mortgage Announces New CEO And Leadership Team
Company names Patrick McEnerney as CEO, Joseph M. Gormley as chief administrative officer, and Scott Bristol as head of retail lending
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RoundPoint Mortgage, a national originations,
servicing, and subservicing mortgage company, today announced its new leadership team, including Patrick McEnerney as chief executive officer, Joseph M. Gormley as chief administrative officer, and Scott Bristol as executive vice president of retail lending.
McEnerney, who was appointed by RoundPoint s board of directors, has over three decades of experience in the mortgage banking and financial services industries. He joined Freedom Mortgage in August 2020 as executive vice president and later took the helm at RoundPoint following the merger between both companies. McEnerney spent the prior 14 years as managing director of Deutsche Bank, where he oversaw a broad range of residential mortgage and mortga
Flagstar Announces First Quarter 2021 Earnings Call
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TROY, Mich., April 9, 2021 /PRNewswire/ Flagstar Bancorp, Inc. (NYSE: FBC) today released instructions for its first quarter 2021 earnings call, which will be held Thursday, April 29, at 11 a.m. ET. The purpose of the call is to discuss Flagstar s first quarter 2021 financial results, which will be released at approximately 6:30 a.m. ET on April 29, 2021.
To join the call, please dial (334) 323-0501 toll free or (800) 353-6461 and use passcode 9931654. Please call at least 10 minutes before the conference is scheduled to begin. A replay will be available for five business days by calling (888) 203-1112 toll free or (719) 457-0820, and using passcode 9931654.
Roughly 8.8% of households in metro Detroit haven t taken what financial experts call the first step toward economic inclusion.
They don t have bank accounts. And it s costing them big money to cash checks and borrow money outside the traditional banking system.
Need to cash your stimulus check?
Call a local party store or check cashing store in metro Detroit and it could cost you around $60 to $100 just to cash a $1,400 stimulus check at some spots.
The bigger the check, the more money you re handing over if the fee is based on a percentage of the check s dollar amount.
Check cashing fees can be 6% or more in some local outlets. A $4,200 stimulus check for a family of three could trigger $252 in fees if the store has a 6% fee.