{"id":31727,"date":"2023-11-02T23:59:55","date_gmt":"2023-11-02T23:59:55","guid":{"rendered":"https:\/\/microloannexus.com\/news\/one-paycheck-not-enough-digital-bank-current-finds-almost-half-its-customers-have-multiple-jobs\/"},"modified":"2023-11-02T23:59:56","modified_gmt":"2023-11-02T23:59:56","slug":"one-paycheck-not-enough-digital-bank-current-finds-almost-half-its-customers-have-multiple-jobs","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=31727","title":{"rendered":"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs"},"content":{"rendered":"<div id=\"NewsShowArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"NewsShowArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107328194\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107328194\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000321325\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.<\/p>\n<p>Current CEO Stuart Sopp finds almost half of the firm&#8217;s payment customers have more than one job.<\/p>\n<p>&#8220;If you&#8217;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,&#8221; Sopp told CNBC&#8217;s &#8220;Fast Money&#8221; on Thursday. &#8220;They&#8217;re trying to make that money go further because of inflation.&#8221; <\/p>\n<p>From <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-2\">DoorDash<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> to <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-3\">Shopify<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> to side businesses, Sopp finds the number is higher than prior years because money doesn&#8217;t go as far. <\/p>\n<p>&#8220;Wage inflation is moderating quite substantially,&#8221; he said. &#8220;America has a sort of tail of two cities right now. Two groups: The wealthy and less affluent.&#8221; <\/p>\n<p>Sopp launched Current, which provides mobile banking without monthly fees and offers secured credit cards, in 2015. It originally focused on helping medium to lower income customers. His company Current reports almost five million members.<\/p>\n<p>He&#8217;s particularly concerned about less affluent consumers spiraling into debt to pay for basic necessities. <\/p>\n<p> &#8220;They&#8217;re being forced into risks like risky credit cards,&#8221; noted Sopp, a former Morgan Stanley trader. &#8220;Unsecured credit cards&#8230; are not suitable for everyone.&#8221;<\/p>\n<p>The Federal Reserve Bank of New York found credit card debt topped $1 trillion for the first time ever in the second quarter.<\/p>\n<p>&#8220;It&#8217;s going to be way bigger this year,&#8221; Sopp said. <\/p>\n<p>Disclaimer<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/02\/one-paycheck-too-small-half-of-currents-customers-have-multiple-jobs.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive. Current CEO Stuart Sopp finds almost half of the firm&#8217;s payment customers have more than one job. &#8220;If you&#8217;re having a paycheck over the past year, 20, 25% of paycheck depositors have at least one extra<\/p>\n","protected":false},"author":1,"featured_media":31728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-31727","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.Current CEO Stuart Sopp finds almost half of the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=31727\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.Current CEO Stuart Sopp finds almost half of the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microloannexus.com\/?p=31727\" \/>\n<meta property=\"og:site_name\" content=\"Micro Loan Nexus\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T23:59:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T23:59:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/11\/106808677-16075317102020-11-13t202748z_293769456_rc2k2k9mcvmr_rtrmadp_0_doordash-ipo.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microloannexus.com\/?p=31727#article\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/?p=31727\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\"},\"headline\":\"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs\",\"datePublished\":\"2023-11-02T23:59:55+00:00\",\"dateModified\":\"2023-11-02T23:59:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microloannexus.com\/?p=31727\"},\"wordCount\":260,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/microloannexus.com\/?p=31727#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microloannexus.com\/?p=31727\",\"url\":\"https:\/\/microloannexus.com\/?p=31727\",\"name\":\"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs | Micro Loan Nexus\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/#website\"},\"datePublished\":\"2023-11-02T23:59:55+00:00\",\"dateModified\":\"2023-11-02T23:59:56+00:00\",\"description\":\"The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.Current CEO Stuart Sopp finds almost half of the\",\"breadcrumb\":{\"@id\":\"https:\/\/microloannexus.com\/?p=31727#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microloannexus.com\/?p=31727\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microloannexus.com\/?p=31727#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microloannexus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microloannexus.com\/#website\",\"url\":\"https:\/\/microloannexus.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microloannexus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microloannexus.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/microloannexus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/microloannexus.com\"],\"url\":\"https:\/\/microloannexus.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs | Micro Loan Nexus","description":"The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.Current CEO Stuart Sopp finds almost half of the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microloannexus.com\/?p=31727","og_locale":"en_US","og_type":"article","og_title":"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs | Micro Loan Nexus","og_description":"The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.Current CEO Stuart Sopp finds almost half of the","og_url":"https:\/\/microloannexus.com\/?p=31727","og_site_name":"Micro Loan Nexus","article_published_time":"2023-11-02T23:59:55+00:00","article_modified_time":"2023-11-02T23:59:56+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/11\/106808677-16075317102020-11-13t202748z_293769456_rc2k2k9mcvmr_rtrmadp_0_doordash-ipo.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microloannexus.com\/?p=31727#article","isPartOf":{"@id":"https:\/\/microloannexus.com\/?p=31727"},"author":{"name":"News Room","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a"},"headline":"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs","datePublished":"2023-11-02T23:59:55+00:00","dateModified":"2023-11-02T23:59:56+00:00","mainEntityOfPage":{"@id":"https:\/\/microloannexus.com\/?p=31727"},"wordCount":260,"commentCount":0,"publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/microloannexus.com\/?p=31727#respond"]}]},{"@type":"WebPage","@id":"https:\/\/microloannexus.com\/?p=31727","url":"https:\/\/microloannexus.com\/?p=31727","name":"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs | Micro Loan Nexus","isPartOf":{"@id":"https:\/\/microloannexus.com\/#website"},"datePublished":"2023-11-02T23:59:55+00:00","dateModified":"2023-11-02T23:59:56+00:00","description":"The need for second \u2014 and often third \u2014 incomes is mounting, according to a top digital bank executive.Current CEO Stuart Sopp finds almost half of the","breadcrumb":{"@id":"https:\/\/microloannexus.com\/?p=31727#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microloannexus.com\/?p=31727"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/microloannexus.com\/?p=31727#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microloannexus.com\/"},{"@type":"ListItem","position":2,"name":"One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs"}]},{"@type":"WebSite","@id":"https:\/\/microloannexus.com\/#website","url":"https:\/\/microloannexus.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microloannexus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/microloannexus.com\/#organization","name":"Solutions For Real","url":"https:\/\/microloannexus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/microloannexus.com"],"url":"https:\/\/microloannexus.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/31727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31727"}],"version-history":[{"count":1,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/31727\/revisions"}],"predecessor-version":[{"id":31729,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/31727\/revisions\/31729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/media\/31728"}],"wp:attachment":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}