Financial Expert, Insurance

James Gutierrez on fixing a broken system

As James Gutierrez says, people have started getting tired of this big wealth gap the world and more especially the United States of America is experiencing. Instead of waiting for angry citizens to force the government’s efforts, James Gutierrez is of the opinion and believes that a more middle up direction can be adopted.

By this, he means that responsible and well to do companies helping lower-income earners. This will help move them towards becoming more stable as they lobby for the regulations from the government, which will support such changes.

Most people targeted for financial services such as loans, credits, and banking relationships are between 50% to 90%. This is according to one, James Gutierrez, a social entrepreneur and The founder of Fintech companies, includes Aura and opportunity.

Poor is expensive

He further points out that being poor is very expensive, and he gives a scenario of one buying auto insurance. He states that there are two categories of this type of insurance which is standard and nonstandard.

He further states that a poor person whose credit score could probably be lower than the expected one will buy the Nonstandard premium. This will, in the end, make this person pay more money than the one who took the strand premium.

The higher interest rates, therefore, have more cases of loans defaulting. As a result, there are disproportionate hardships for these people who are not secured financially.


Finally, James Gutierrez advises that more working capital need to be added to those companies trying to break that traditional mold. He notices that companies such as Opportune, Aura, those banks owned by blacks, and the CdfIs trying to balance while serving the communities need funds as the status quo doesn’t help make things any better.

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