DURHAM, N.C. - Defaults are a bad outcome for both lenders and borrowers, and research shows that the mismatched timing between a person’s income and their bills is one of the most common reasons for these financial shortfalls.
A new behavioral science experiment conducted by Duke University’s Common Cents Lab with customers of Beneficial State Bank (BSB) shows a simple, creative way that banks can reverse this trend and reduce defaults by eliminating mismatches. LEARN MORE