• IDEAS42

Historically, the goal of the financial inclusion field has been to bring “unbanked” and “underbanked” consumers10 into the regulated financial services system to access affordable and safe financial products. Since the 2008 financial crisis, regulators have put considerable pressure on large financial institutions to change the way they serve low- and moderateincome (LMI) consumers, in many cases restricting legacy profit models and common operating practices. These efforts have largely failed,
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