Sentences with phrase «u.s. traditional financial institutions»
Lack of access to financial products — like credit cards, loans and deposit accounts — is an issue plaguing millions in the U.S. Traditional financial institutions, like banks and credit unions, depend on credit reports and Social Security numbers (SSNs) when evaluating applicants.
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French and German friends keep asking me to explain why this should be, almost as much as they ask me to explain the Donald Trump phenomenon in the U.S.. All I can say it that it is another symptom of this Age of Disruption, with globalization, internet, smart phones, automation, mass migration and the 2008 financial crisis all combining into a perfect storm of discontent with traditional institutions and politics.