Underbanked Voices
July 10, 2012 10:55 AM
Square Passion
"I'm obsessed with Jack Dorsey." -- Citigroup's Deborah Hopkins, one of many fans of the Twitter co-founder and his Square payments company. (Image: Scott Hester)
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Self-Critic
"I'm a big critic of the [prepaid] industry," where the fees are "out of whack." -- Stewart Stockdale, Western Union's head of global consumer services. (Image: Scott Hester)
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Charm Offensive
"We approach our task with on the one hand great humility, and also with full appreciation and respect for the groundbreaking work that so many of you have done." -- David Silberman, the Consumer Financial Protection Bureau's acting associate director for research, markets and regulations. (Image: Scott Hester)
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Payday Loan Pros
"It's going to be very hard for any of us to serve the underserved if you don't have a loan product. … There's a huge need for liquidity." - John Owen, Regions' head of business lines. (Image: Scott Hester)
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Payday Loan Cons
"When the innovation in the banking space is moving from opt-in overdraft loans to deposit advance loans that are cheaper versions of a payday loans … that's not what we would call innovation." -- Paul Leonard, the Center for Responsible Lending's California director. (Image: Scott Hester)
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Growing Poverty
"There's tremendous enthusiasm about this market, both as people come to understand this market, and as it's gotten bigger in the wake of the financial crisis." -- Jennifer Tescher, head of the non-profit Center for Financial Services Innovation. (Image: Scott Hester)
