Demographics

Avant, an online lending platform that focuses on borrowers with marred credit, announced an agreement Wednesday to raise $325 million in equity financing from blue-chip investors.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including how postal banking could help low-income people in the U.S. and the continuing debate over interchange fees.

American banks long ago deserted their most impoverished communities. Today, post offices are uniquely well positioned to serve the underbanked population — and perhaps reinvigorate a culture of saving in the process.

Contrary to the CFPB’s paternalistic claims, most payday loan borrowers are aware that it may take them more than two weeks to repay the credit they take out.

As part of American Banker's series on the C-Suite, chief information officers, chief technology officers and others serving in similar roles at banks shared their insights into how the industry is being affected by technology, where they wish they could spend more time and what it takes to be a driving force in their institutions.

Families that use state-issued EBT cards often face ATM fees that eat away at their already-meager incomes. Banks should waive those fees in order to ensure that all public assistance dollars go toward household needs.

Prepaid cards appeal to a growing percentage of the population like millennials and other 21st century consumers who want to manage their money without being tied down to bank locations.

It's been nearly a century since reformers and lenders agreed on 36% as a small-dollar loan ceiling. Inflation has since swelled production costs, and lending under this cap is no longer profitable. The result: fewer options for consumers.

Corporate strategy is taking up more of a CIO's day than ever, survey respondents say.

Driven by greater demands to help meet business goals, these CIOs share some of the tactics that have helped them win friends and allies in other departments and move big projects forward.

Security and online and mobile banking rose to the top of bank CIOs' priority lists this year, according to a proprietary survey by American Banker and SourceMedia Research.

A survey of 50 bank CIOs conducted by American Banker found CIOs' daily lives are still dominated by the need for state-of-the-art customer-facing technology, security concerns and concerns around business strategy and revenue growth.

While hiring a chief risk officer is a given at the big banks, smaller institutions must weigh several factors and options in determining the risk leadership model that works for them.

At this year's EMERGE Forum in Austin, Texas, the Financial Solutions Lab — a $30 million, five-year initiative managed by the Center for Financial Services innovation with founding partner JPMorgan Chase — revealed the winners of a recent competition for apps that tackle consumers' cash flow challenges. The nine winning organizations, chosen from 298 applicants and 14 finalists, received a combined $3 million, along with mentorship, networking, peer learning and national partnership opportunities. The following is a look at their solutions to the problems of the working poor and others ill-served by traditional financial products.

On top of dealing with cyber threats and other potential dangers to banks, CROs are deeply involved these days in discussions over investing in new products and business lines.

Cyber threats or fraud may present bigger direct risks to banks, but many chief risk officers spend enormous amounts of time on the more tangible concern of keeping up with ever-growing regulatory expectations and requirements.

A role many people did not understand less than a decade ago has become integral to how banks navigate a new set of postcrisis hazards.

The financial crisis and its aftermath elevated the stature of CROs. The true test of their new clout will come during the next market expansion.

American Banker Research conducted a detailed online survey of 49 risk management executives from our readership as part of the inaugural C-Suite Series. The respondents included risk managers from banks with over $10 billion in assets all the way down to institutions with less than $100 million in assets. Questions covered topics from where risk officers devote the most attention to what roles they see themselves taking on next. The survey reveals executives' significant focus on regulatory risk and that boards are being responsive to concerns raised by chief risk officers. Here are highlights from the research.

JPMorgan Chase will overhaul customer screening procedures to let more low-income consumers open checking and savings accounts under an agreement announced Tuesday with New York Attorney General Eric Schneiderman.