Demographics

Mission Asset Fund has helped people build their credit by formalizing the informality of lending circles. The John D. and Catherine T. MacArthur Foundation recently named Mission's CEO José A. Quiñonez one of its 2016 Fellows.

A strategy to reinvigorate black-owned financial institutions would not only bring hope to the black community but would also be an inspiration for other minorities who seek to be more effectively served by financial institutions that understand their needs.

WASHINGTON — More than one hundred House Democrats sent a letter to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday calling for the agency to strengthen its proposal to rein in payday lending.

Lenders are starting to bring artificial intelligence into their lending processes. Some wonder whether the machines can make rational, unbiased choices.

The parent company of the consumer lender LendUp has been fined more than $6.3 million by the Consumer Financial Protection Bureau and the California Department of Business Oversight for overcharging borrowers and violating payday and installment lending laws.

An unusual investment by the Minneapolis company shows how big banks are developing innovative partnerships to deliver financial services in low-income neighborhoods.

Ten institutions are rising above national grievances to help startups – many minority owned – get up and running in a struggling mill town.

Contrary to their stated goals, the Fed's post-crisis regulatory and monetary policies may be contributing to U.S. income and wealth inequality, according to a new paper based on academic research from the Federal Reserve and foreign regulators.

As the Consumer Financial Protection Bureau proposes new small-dollar lending rules, it has also sought comment on an alternative plan that would open the door to banks providing more lower-income credit solutions.

Banks are making it easier to get approved for a checking account. But once-banished customers may not be able to use some of the features that made having an account attractive in the first place.