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.
How FDIC Is Nudging Banks to Reach Underserved
This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.