Comprehensive analysis of the banking industry's first big legislative victory since the crisis; lawsuits target banks with websites in violation of the Americans with Disabilities Act; what a homegrown app for millennials has to teach Wells Fargo; and more from this week's most-read stories.
While industry officials welcomed a bulletin from the Office of the Comptroller of the Currency encouraging banks to develop alternatives to payday loans, they are making no commitments to offer such products.
A public-private coalition, including Citigroup and disability advocates, is testing financial literacy strategies in New York City that they hope will be used nationwide to improve the financial lives of Americans with disabilities.
The Pew Charitable Trusts has released a set of 10 standards for banks and credit unions that want to offer small loans to subprime customers. Among its ideas: keep monthly payments at or below 5% of the borrower’s paycheck and make loans available quickly through digital channels.