Underbanked

Karen Andres at the Center for Financial Services Innovation talks about the financial problems of people over 50 and how banks can help.

Financial education programs have been shown to be largely ineffective. What low-income consumers really need from banks are better products and more tailored advice.

About 100 financial institutions are owned by or work with Native Americans, yet traditional banking services remain out of reach for many in this demographic.

Senior officials at the OCC, FDIC and Fed signaled they agree more than they disagree on a plan to modernize the Community Reinvestment Act.

As bankers' skepticism about blockchain deepens, crypto firms should demonstrate how the technology can help financial companies, such as by extending access to the underbanked, says Hinkes, a prominent advocate of blockchain.

The current debate around changes to the Community Reinvestment Act should include discussions about how the law can be used to better support low-income communities in remote areas.

The current debate around changes to the Community Reinvestment Act should include discussions about how the law can be used to better support low-income communities in remote areas.

The Association for Black Economic Power will receive an interest-free forgivable loan and a grant from the city to help pay for a retail space and equipment for the effort.

The bank is tying manager pay to inclusive hiring; Cboe Global Markets to stop trading bitcoin futures.

First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.

The federal government's more active role in GDP, payroll and other vital statistics produced by the island could hasten its recovery from Hurricane Maria and lift lending and bank valuations at the same time.

Recounting her family’s financial struggles, Jelena McWilliams said regulatory policy should address the plight of the underbanked.

J. Mark McWatters, chairman of NCUA, and Rick Metsger, a board member, also said that Congress should give the agency more authority over field of membership for underserved areas.

Crystal Long, CEO and president of GECU, is being recognized by the National Credit Union Foundation for her efforts in financial literacy.

While many public policy initiatives focus on the 1.7 billion “unbanked,” we rarely hear about the nearly 1 billion people who do have a bank account and a smartphone but have no credit card nor cross-border-enabled debit, writes Eric Rosenthal, managing director of the Americas at Rapyd.

The agency is exploring how to reopen small-dollar lending options for banks, but consumer groups are urging it to maintain pricing limits and other controls.

The Financial Solutions Lab, a joint initiative, has announced the winners of its annual competition to identify solutions to consumer financial challenges, this year focusing on startups dedicated to improving financial health in the workplace.

A recent proposal to allow the government-sponsored enterprise to offer more credit in agricultural regions is deeply flawed.

LendStreet is looking to break the circle of debt that often arises when struggling borrowers try to consolidate what they owe.

The banking industry has long been critical of the government-sponsored enterprise, but the system could provide valuable banking services to large swaths of the country currently lacking access to them.