Immigrants view banks with skepticism and fear
Particularly among those who have newly arrived in the United States, many immigrated individuals choose not to use banks and are wary of financial institutions for several reasons. Cultural barriers may deter them from employing these services, while past negative experiences in their home countries also cause immigrant residents to exercise caution. Financial literacy programs and efforts from banks to become more accessible have been encouraging for this population, but many are still hesitant to open an account. Language challenges […]