Quantcast
Bloomberg News
Future discussions about how mobile banking can be used to meet the needs of the underserved should include mention of innovations from both banks and nonbanks, Gruenberg said.

How FDIC Is Nudging Banks to Reach Underserved

The issue of serving so-called "underbanked" borrowers has taken on a new urgency since regulators began cracking down on payday and certain other low-dollar, high-interest loans, prompting fears of a credit crunch for low-income consumers. The FDIC is looking at banking by mobile phone and other possible solutions as a way of bridging the gap.

To continue, please log in, register or subscribe.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here
Please note you must now log in with your email address and password.