Financial inclusion

The agency’s biennial survey showed gradual improvement in access to mainstream banks, but over 14 million adults lack ties to a federally insured institution.

Better web access, paid for by banks, could go a long way toward moving the unbanked into the mainstream. It was one of many ideas batted around at a recent a conference on the role fintech can play in promoting financial inclusion.

Banks should work to shield some customers who may otherwise be flagged or blocked by AI-powered safeguards, and consider using alternative data to expand services to the underbanked.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

Judy Long, president of First Citizens National Bank in Dyersburg, Tenn., launched the Smart Women financial literacy program after seeing female customers struggle with managing their finances.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan.

The bank's $7 million over four years toward the initiative is its largest overseas philanthropic commitment.

A $52 million-asset African-American-owned bank in South Carolina is hoping its efforts can be expanded to help underbanked consumers nationwide.

The OCC has simplified language detailing how fintech charter applicants will clear requirements for meeting community needs. The move has some consumer groups worried.