The need for second — and often third — incomes is mounting, according to Current CEO Stuart Sopp.
The need for second — and often third — incomes is mounting, according to a top digital bank executive."If you're having a paycheck over the past year, 20, 25% of paycheck depositors have at least one extra job. A further 20% incremental from there have two jobs," Sopp told CNBC's""Wage inflation is moderating quite substantially," he said."America has a sort of tail of two cities right now. Two groups: The wealthy and less affluent.
Sopp launched Current, which provides mobile banking without monthly fees and offers secured credit cards, in 2015. It originally focused on helpingJim Cramer praises ‘Magnificent Seven' stocks, says last week's mega-cap tech sellers missed out "They're being forced into risks like risky credit cards," noted Sopp, a former Morgan Stanley trader."Unsecured credit cards... are not suitable for everyone."Almost half of Current's payment customers have more than one job, says firm's CEO
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